{"id":9645,"date":"2023-05-10T20:13:18","date_gmt":"2023-05-10T20:13:18","guid":{"rendered":"https:\/\/cannabisindustryjournal.com\/?post_type=news_article&amp;p=36457"},"modified":"2023-05-10T20:13:18","modified_gmt":"2023-05-10T20:13:18","slug":"new-jersey-market-grows-regulators-make-licensing-progress","status":"publish","type":"post","link":"https:\/\/cannitrol.com\/blog\/new-jersey-market-grows-regulators-make-licensing-progress\/","title":{"rendered":"New Jersey Market Grows, Regulators Make Licensing\u00a0Progress"},"content":{"rendered":"<div id=\"wp_fb_like_button\" style=\"margin:5px 0 5px 5px;float:right;height:100px;\"><script src=\"http:\/\/connect.facebook.net\/en_US\/all.js#xfbml=1\"><\/script><fb:like href=\"https:\/\/cannitrol.com\/blog\/new-jersey-market-grows-regulators-make-licensing-progress\/\" send=\"true\" layout=\"standard\" width=\"450\" show_faces=\"false\" font=\"arial\" action=\"like\" colorscheme=\"light\"><\/fb:like><\/div><p>2023 has so far been a productive year for the New Jersey Cannabis Regulatory Commission (CRC), the government body tasked with overseeing the state\u2019s medical and adult use cannabis markets. The licensing process since New Jersey first launched its adult use cannabis market has been slow, but intentional and systematic.<\/p>\n<p>When the state <a href=\"https:\/\/cannabisindustryjournal.com\/news_article\/new-jersey-launches-adult-use-sales\/\">first launched adult use sales<\/a> in April of last year, only thirteen dispensaries in the Garden State had their doors open for customers. A little more than a year has passed and now <a href=\"https:\/\/data.nj.gov\/Reference-Data\/New-Jersey-Cannabis-Dispensary-Locations\/uyq5-2c2g\" target=\"_blank\" rel=\"noopener\">27 dispensaries<\/a> at this time have opened their doors for adult use customers.<\/p>\n<figure id=\"attachment_36458\" aria-describedby=\"caption-attachment-36458\" class=\"wp-caption alignright\"><a href=\"https:\/\/cannabisindustryjournal.com\/wp-content\/uploads\/2023\/05\/home-back1.jpg\"><img loading=\"lazy\" class=\"wp-image-36458 size-medium\" src=\"https:\/\/cannitrol.com\/blog\/wp-content\/uploads\/2023\/05\/new-jersey-market-grows-regulators-make-licensing-progress.jpg\" alt=\"\" width=\"200\" height=\"113\" \/><\/a><figcaption id=\"caption-attachment-36458\" class=\"wp-caption-text\">Holistic Solutions, a dispensary based in southern NJ<\/figcaption><\/figure>\n<p>The CRC has been a busy body this year, issuing hundreds of conditional licenses to microbusinesses and standard licensees (temporary licenses awarded to applicants giving them the green light to obtain local approval, find real estate and apply for a conversion to an annual license). Of the annual licenses <a href=\"https:\/\/www.nj.gov\/cannabis\/businesses\/recreational\/license-awardees\/\" target=\"_blank\" rel=\"noopener\">they have awarded in 2023<\/a> so far, 18 have gone to cultivators, 12 to manufacturers, 35 to retailers and one laboratory. That\u2019s an additional 65 cannabis businesses given approval to start operations.<\/p>\n<p>Just last week, <a href=\"https:\/\/www.myholisticsolutions.com\/\">Holistic Solutions<\/a>, based in Waterford, New Jersey, announced that they started serving adult use customers. Holistic is New Jersey\u2019s first Black woman-owned cannabis licensee, with Suzan Nickelson at the helm. \u201cWe are thrilled to have the opportunity to serve adult-use customers at Holistic Solutions,\u201d says Nickelson. \u201cOur mission has always been to provide education and access to natural healing solutions, and we are excited to continue that mission for all of our customers.\u201d<\/p>\n<p><span class=\"callout-l\">The Cannabis Quality Conference takes place in New Jersey this year, October 16-18, 2023. <a href=\"https:\/\/cqcexpo.com\">Click here to learn more.<\/a><\/span>Valley Wellness, the first independently owned dispensary to open in the state, <a href=\"https:\/\/www.nj.com\/atlantic\/2023\/05\/2-new-legal-weed-stores-open-in-nj-this-week.html\" target=\"_blank\" rel=\"noopener\">also opened its doors to adult use customers last week<\/a> in Somerset County. \u201cWhile the market is expanding, it takes cannabis companies months, if not years, to open,\u201d Sarah Trent, owner of Valley Wellness, told reporters. \u201cSo we expect our product selection will remain stable and similar over the next year or so. That said we are anxious to add new products made from local New Jersey growers and manufacturers.\u201d<\/p>\n<p>With all these new licensees and a larger marketplace comes tax revenue the state is eager to see. Back in March, <a href=\"https:\/\/cannabisindustryjournal.com\/feature_article\/new-jersey-moves-to-remove-states-280e-tax-code\/\">legislators in the state approved a bill that would allow cannabis businesses to deduct ordinary business expenses<\/a> on their state tax return that they are prohibited from deducting on their federal tax return, the dreaded 280E tax code that cannabis stakeholders know as a painful thorn in their side. Governor Murphy <a href=\"https:\/\/www.nj.com\/marijuana\/2023\/05\/murphy-gives-nj-legal-weed-businesses-a-break-with-new-law-allowing-deductions-on-state-taxes.html\" target=\"_blank\" rel=\"noopener\">signed that bill into law<\/a> yesterday, which should lessen the massive tax bills that cannabis businesses in the state are accustomed to seeing.<\/p>\n<p>As the state\u2019s cannabis market continues to blossom, a large number of those new licensees are expected to come online before the end of the year.<\/p>\n<div class=\"sharedaddy sd-sharing-enabled\">\n<div class=\"robots-nocontent sd-block sd-social sd-social-icon-text sd-sharing\">\n<h3 class=\"sd-title\">Share this:<\/h3>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>2023 has so far been a productive year for the New Jersey Cannabis Regulatory Commission (CRC), the government body tasked with overseeing the state\u2019s medical and adult use cannabis markets. The licensing process since New Jersey first launched its adult use cannabis market has been slow, but intentional and systematic. When the state first launched [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[9591,8459,9266,5062,8502,52,8509,8461,8909,8910,9280,5179,8503,251,8458,609,8770,8564,1964,5334,2254,8514,2139,8771,8515,8604,6288,6556,184,2299,8605,6430,9320,7524,77,8469,6431,9,2561,9592,69,9506,9271,8504,8940,9593,8472,5235,421,5236,8518,6845,8520,8477,1,3,8522,8524,18,61,1736],"tags":[9594,8481,9273,5063,8528,2632,8535,8483,8917,8918,9285,5181,8529,2829,8480,3182,8780,8586,4532,5350,4821,8540,4707,8781,8541,8619,6292,2415,2762,4866,8620,6433,9325,7527,2655,8491,6434,35,9595,2648,9510,9278,8530,8963,9596,8494,5237,2999,5238,8544,6846,8546,8499,8548,8550,2622],"_links":{"self":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/9645"}],"collection":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/comments?post=9645"}],"version-history":[{"count":0,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/9645\/revisions"}],"wp:attachment":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/media?parent=9645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/categories?post=9645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/tags?post=9645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}