Some, in fact, argue the supply crunch has arrived. Industry officials have already reported long lines at dispensaries and low supplies of concentrate-infused products.
“At this point, New Jersey has been rapidly depleted, and I dont see a whole lot of other grows,” said Steve Schain, a New Jersey-based cannabis attorney with Smart Counsel.
“Opening a dispensary is one thing, but opening a grow is quite another, which is what we need to have.”
According to industry officials, prospective growers face a host of obstacles that are crimping the flow of marijuana to retailers, including:
- Pandemic-related delays in the licensing process.
- Resistance to the industry at the local level.
- Difficulties securing real estate.
- The months it takes to plant and grow cannabis.
- Global economic issues such as inflation and supply-chain problems that are slowing construction of new cultivation facilities – and making them more expensive.