There was no shortage of interest for participating in New Jersey’s forthcoming adult-use cannabis retail market when state regulators began accepting a second round of applications earlier this week.
The state’s Cannabis Regulatory Commission (CRC) opened the dispensary license application process for Class 5 retailers at 9 a.m. March 15. By 4 p.m. that day, the commission had received 172 applications, NJ.com reported.
According to CRC’s website, Class 5 license types authorize retailers to purchase adult-use cannabis from licensed cultivators, manufacturers or wholesalers, and to sell those items to consumers in a retail store.
The license applications for Class 5 retailers will be accepted and reviewed on a rolling basis until indicated otherwise, according to CRC.
“Social equity businesses, diversely-owned businesses, impact zone businesses, and applications that receive bonus points will be afforded priority review, scoring, and approval,” the website states.
In addition, CRC has not established a limit on the number of cannabis business licenses available statewide. However, under current law, the number of adult-use cultivator licenses is limited to 37 until Feb. 22, 2023.