The Township Council adopted an ordinance last week that permits six marijuana businesses here.
"Based upon the zoning we’ve come up with, even though they are permitted, they may not be viable within the township," Mayor Francis Womack later said. "This is our way of trying to keep all options open."
The ordinance permits the operation of all six types of marijuana businesses – retail, delivery, wholesaler, manufacturer, cultivator and distributor – and sets a 2% tax on retail sales and sales between marijuana businesses and a 1% tax on wholesales.
1. Cannabis promotes tourism
The Jersey Shore, Ellis Island, Manhattan, and the Catskill Mountains are only a few of the many tourist hotspots in New Jersey and New York. Legal cannabis has the chance to not only keep these resorts running but bring in significantly more profits and tourists overall. Since gaining momentum in the past decade, cannabis businesses have developed unique attractions for tourists, including but not limited to bus tours, cannabis-friendly hotel accommodations, paint nights, and more.
Ward A Councilwoman Denise Ridley and Council President Joyce Watterman expressed their interest in the new revenue benefiting people in the neighborhoods adversely affected by harsh and often discriminatory out-of-date marijuana laws, including those who were formerly incarcerated.
“I would like to go into some type of re-entry or employment training program,” she said.
The ordinance is being introduced May 4. This is called “the first reading.” There will be a public hearing on Jun 1,2021 as a part of that Board of Commissioners meeting.
Local business owner Neil Henning stated “If Cannabis business’ are allowed to do business in the state of NJ there is no good reason to have this ordinance in Nutley.”
Karen O'Malley brought up the November election results and stated “The county definitely voted overwhelmingly in support of the measure. The best and only course of action IMO, is to go with those election results in this matter.”
Rise Dispensaries have opened a medical marijuana dispensary in Paramus, making it the second Rise location in New Jersey.
Parent company Green Thumb Industries said the profits from the first day of sales will be donated to the Paramus Children's Health Foundation, which provides "financial support to families of children who suffer from a severe illness or injury that results in economic hardship."
City officials have collected their first medical marijuana tax payment — a check for $50,514 — from the cannabis dispensary operates on Route 20 in Paterson.
The check, which was issued last month, covered the 2% transfer tax on medical marijuana sales at the business for November and December, officials said.
The revenue exceeded city officials’ projections that Paterson would get about $10,000 per month in taxes from the cannabis business. Instead the taxes amounted to about $25,000 per month.
The deal calls for a $42 per ounce tax and entitles towns to collect tax revenue, as well. Municipalities with cannabis retailers could collect 3 percent tax, those with cultivators will collect 2 percent and those with wholesalers would get 1 percent.
The measure calls for a five-member regulatory commission.
After more than a year of negotiations, Gov. Phil Murphy and legislative leaders have reached a final deal on New Jersey marijuana legalization. A vote to legalize weed in the Garden State could come later this month.