Medical Marijuana Manufacturing Facility Moving Forward in Jersey City
A property in a Jersey City industrial park that was expected to be converted into a bowling alley and brewery might instead be used for an entirely different purpose.
A property in a Jersey City industrial park that was expected to be converted into a bowling alley and brewery might instead be used for an entirely different purpose.
Peter Barsoom lives in Denver, but he really wants to come home to New Jersey.
The son of Egyptian immigrants, Barsoom grew up in Jersey City and East Brunswick and earned his master’s degree in political science at Princeton University. For two decades, he was a successful Wall Street executive. But five years ago, he decided to roll the dice: He quit his day job at Intercontinental Exchange and dove headfirst into the nascent cannabis industry in Colorado.
New Jersey's weed-friendly political climate is also luring prospective growers like Ohio-based Galenas LLC. The company's president, Geoff Korff, hopes to lease property from Gloucester Township.
"Under Gov. (Phil) Murphy, we’ve seen a new rejuvenation and renewed interest in the industry in getting medical cannabis to patients that need it," said Korff, an attorney whose company is building a cultivation facility in Ohio. "The political winds indicated to us the timing is right for us to take a serious look at the state."
And as legalization spreads, established companies in early-adopting states are looking to expand — especially to the East Coast, which is expected to largely legalize in the coming years. Rolling Stone caught up with Peter Barsoom, CEO of 1906 Edibles, a Colorado-based company that specializes in mood-targeting cannabis treats for both the medical and recreational markets. Currently only available in Colorado, they’re moving into both the Massachusetts and Canadian markets next year.
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