New Jersey’s governor is teaming up with a coalition of major cannabis brands to launch a campaign meant to educate and encourage consumers about the risks of buying marijuana products outside of regulated markets.
The U.S. Cannabis Council (USCC) is leading the “Buy Legal” effort, which was announced on Thursday in New Orleans at the Black CannaBiz Expo.
By the time that Spring rolls around, Mount Laurel residents may have two local recreational cannabis dispensaries to choose from.
Lotus Dispensary, which is slated to take over the vacant former gas station at 1110 Rt. 73, could open as early as April or as late as June, owner Hursh Patel said.
"It will be very upscale," he said. "We want to revitalize the site."
The Jersey City City Council is on the path toward adopting a local law that would cap the number of marijuana dispensaries in the city at 55.
The number 55 was derived from the number of applications for dispensaries that have been submitted. The number is not set in stone and open for additional discussion, Business Administrator John Metro said during the October meeting when the ordinance was introduced.
Gov. Phil Murphy (D) has frequently been asked about the lack of a home grow option in New Jersey’s cannabis program, and he’s expressed openness to the proposal before. But he made clear during a Q&A session on WNYC radio on Monday that he doesn’t think the time is right to enact that additional reform.
"Even with new stores opening, we continue to ramp up production (in New Jersey)," Green Thumb Chief Executive Ben Kovler told Reuters, adding that the state "continues to show strength" in terms of sales.
Green Thumb's revenue rose 3% in the three months ended Sept. 30 from the previous quarter, partly helped by more people visiting its 77 open stores across 15 U.S. states during the quarter, the company said.
The dispensary owned by Curaleaf in Bordentown Township began adult weed sales on Tuesday, becoming the 20th store in New Jersey to sell legalized recreational adult marijuana.
The soft opening was confirmed to NJ Advance Media by Curaleaf spokeswoman Meg Kelly.
Kelly said the company plans to officially announce the launch of adult weed sales in Bordentown and other details on Wednesday.
The New Jersey Cannabis Regulatory Commission designated the New Jersey Business Action Center (NJBAC) to spearhead the new program, which will provide support in the following areas:
- Business registration.
- Marketing and branding.
- Corporate structure.
- Taxes.
- Human resources.
Initial training will combine prerecorded webinars with live, virtual question-and-answer sessions twice a month. Classes will be taught by faculty with cannabis industry experience.
Gov. Phil Murphy has signaled he would be open to letting New Jersey residents allowed to grow their own marijuana.
The remarks came in an answer to a caller on the monthly “Ask Governor Murphy” call-in show on Monday. Some New Jersey residents have been frustrated by the new state law that allows the sale and use of recreational marijuana, but does not allow any amount to be legally grown at home.
Under the Internal Revenue Service (IRS) code 280E, the marijuana industry remains blocked from taking federal deductions, which precludes entities that illegally sell Schedule I or II drugs from key tax deductions in their federal filings.
However, as partial relief, the New Jersey Assembly passed a bill that would allow licensed cannabis businesses to deduct certain expenses on their state tax returns. The legislation, introduced by Assemblymember Annette Quijano (D) passed the House in a 60-6 vote.
The attorney general of New Jersey last week issued a new directive on drug testing requirements for law enforcement agencies, a necessary update following the launch of the state’s legal cannabis market earlier this year.
Matthew Platkin, who was confirmed as the state’s AG last month, said that following the opening of the regulated marijuana industry in April, “many law enforcement agencies delayed the random drug testing of officers under the AG Drug Testing Policy to allow time for additional guidance and clarity.”