Several dozen people employed in New Jersey’s legal cannabis business are wondering if the magic has worn off of marijuana even before the state’s first high fully kicks in.
Curaleaf, currently the biggest player in the Garden State’s weed field, has announced that it will close its cultivation facility in Bellmwar and combine it with another grow location in Winslow Township. Curaleaf’s retail shop in Bellmawr will remain open and will not undergo any layoffs, but up to 40 workers at the cultivation center could lose their jobs.
It would be unusual to see people in what is arguably the state’s fastest “growing” industry standing in unemployment lines. But, government officials hoping for a bonanza in tax receipts and entrepreneurs who are still awaiting pot licenses should take note.
Maybe it’s just as well that the notoriously slow New Jersey Cannabis Regulatory Commission hasn’t rushed final action on hundreds of applications. The panel recently said it wants to fast-track approvals for minorities and persons with prior marijuana convictions. It would compound an injustice if they get their licenses just in time for these least-capitalized applicants to lose their shirts.
Like virtually all employers who downplay location closures and job cuts, finding the real impact of Curaleaf’s announcement requires reading the tea leaves, except that these leaves are of a different kind.