New Jersey’s Cannabis Regulatory Commission pushed back a bit on the idea that the industry is not opening up fast enough in New Jersey.
The comments came in response after Curaleaf, the largest distributor in the state, said last week it had to lay off workers at its Winslow production facility because they had enough product to handle what needed to be sold in the state’s 35 retail outlets.
“We do not believe the New Jersey cannabis market is struggling — we believe it’s growing sustainably, as evidenced by increasing sales in every quarter, growing from $80 million in Q2 of 2022 to $145 million in Q1 of 2023,” the statement read. “There are now 49 dispensaries opened across the state, with 35 serving recreational customers, and we have now awarded 191 new annual licenses and more than 50 ATC expansions, with many on pace to come online before year’s end.
“One hundred and thirty-eight of the new licenses are for manufacturing or retail businesses — potential Curaleaf customers. As with all kinds of businesses, performance against increased competition and customer choice will determine success.”