New Jersey’s recreational marijuana market opens for business

The New Jersey Marijuana Recreation Market is open for business. Recreational cannabis sales for adults 21 and older are scheduled to begin on Thursday, and the first alternative treatment centers will open at 6 a.m. in the state.

“It’s a huge event. It’s a time in American history when the 2.0 ban is lifted,” said Ben Kovler, president and CEO of Green Thumb Industries, which has two facilities opening on Thursday. one in Bloomfield and another in Paterson.

The start of the recreational market comes a week after Democratic Gov. Phil Murphy announced that state regulators had paved the way for recreational sales at seven “alternative treatment centers” that had already offered medical cannabis. The seven centers operate 13 facilities statewide.

New Jersey is among the 18 states, plus the District of Columbia, with legalized recreational marijuana markets. Thirty-seven states, including New Jersey, have legalized medical marijuana.

“We’ve been working with our community partners to make sure we mitigate lines, mitigate traffic and train our staff and how to make sure they’re checking IDs 21 or higher and making sure we have all products ready. ”Adam Goers, a Columbia Care executive who operates dispensaries in Deptford, New Jersey, and Vineland, New Jersey, told CBS Philly.

New Jersey is the first of its closest neighbors to start recreational sales. New York is moving forward with a recreational market, but sales are not expected to begin until the end of the year, state officials have said.

Neighboring Pennsylvania has medicinal but not recreational cannabis. Some cities, such as Philadelphia and Pittsburgh, passed ordinances to decriminalize marijuana or make it a low priority for law enforcement. Legislation allowing recreational marijuana in Delaware was defeated in March.

“Narrower menu”

Ziad Ghanem, president and chief operating officer of TerrAscend, which operates centers in Maplewood and Philipsburg, said that to accommodate patients, the centers would have a “narrower menu” to start with for recreational users.

State regulators say New Jersey dispensaries can sell up to the equivalent of 1 ounce of cannabis, which means one ounce of dried flower, or 5 grams of concentrate or 1,000 milligrams of groceries, such as jelly beans. Perishable items such as cookies and brownies are not available.

To obtain regulatory approval, the facilities told regulators not to interrupt access to patients with medical marijuana. Centers must also meet social equity standards, such as providing technical expertise to new marijuana companies, especially social equity applicants, those in parts of the state with financial hardship or people who have had cannabis-related crimes.

New Jersey’s tax revenue is expected to go up, but it’s unclear how much. Murphy’s 2023 fiscal year budget is pending before the Democratic-led Legislature and estimates revenue of only $ 19 million in a budget of nearly $ 49 billion. By 2019, as the legalization of recreational marijuana was still pending from voters, it had estimated about $ 60 million in revenue.

Legislation regulating the recreational market calls for a 6.625% sales tax to be applied, and 70% of the proceeds will go to areas disproportionately affected by marijuana-related arrests. Black residents were up to three times more likely to face marijuana charges than white residents. Municipalities can also charge a tax of up to 2%.

In a note to state officials, Acting Attorney General Matt Platkin reminded police that unregulated marijuana remains an illegal substance.

And while marijuana demand is expected to rise in New Jersey, some residents oppose it.

“I’m against it,” Keisha Allen told CBS Philly. “I just think we’re legalizing the next issues. It’s me, I don’t like it, especially with the kids living in this community. I think we’re sending the wrong signal.”