The state Cannabis Regulatory Commission has designated 30% of cannabis business licenses for diverse ownership groups — 15% for certified minority-owned businesses, and 15% for those certified as women owned or disabled veteran owned. Certification requires that a 51% interest or more is held by a combination of minorities, women or disabled veterans, and daily business operations are controlled by one or more of the owning minorities.
This strong backing at the state level may have given eligibly diverse entrepreneurs the idea that a path was cleared for them to get into the promising cannabis business. Not that simple in heavily regulated and home-ruled New Jersey.
The Cannabis Regulatory Commission seems to be doing its part. In December, it said that 1,080 of its cannabis license applicants — 72% — qualified as diversely owned. A month or so later, the commission announced that 247 applicants with prior convictions had received at least conditional approval to grow, manufacture or sell recreational cannabis.