The New Jersey Economic Development Authority (NJEDA) is engaging in a series of listening sessions with cannabis-industry stakeholders. The goal of these sessions is to focus on gaining a better understanding of the opportunities and obstacles new cannabis businesses may face. These challenges include access to capital and the high start-up costs associated with this new and emerging sector. NJEDA is interested in hearing comments, questions, and other key information to better understand the scope of the costs associated with starting a new cannabis business.
The NJEDA plans to use the feedback it receives from these sessions to explore potential assistance programs that can help to create equitable access to the cannabis industry. Research indicates that minority communities have been disproportionally affected by cannabis criminalization and potential assistance programs can help to create a more equitable and diverse cannabis industry.
“The NJEDA is conducting listening sessions throughout the State to better understand cannabis applicants’ experiences with navigating business start-ups and access to capital issues in this emerging industry,” said NJEDA Chief Executive Officer Tim Sullivan. “Stakeholder input can help design a potential cannabis grant program that brings equity and economic opportunity to communities and individuals who have been disproportionately impacted by cannabis prohibition and advances Governor Murphy’s vision for a stronger, fairer New Jersey.”