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High hopes for medical pot in N.J.
With New Jersey in need of an economic boost, medical marijuana advocates say the state should not overlook the lift the drug can provide when it’s expected to become legally available at the end of the year.
The newly minted medical marijuana law will allow New Jersey to begin cashing in on what is a nearly $2 billion market for states with similar laws, Thomas Leto, president of the U.S. Medical Marijuana Chamber of Commerce, said at a news conference Wednesday.
Leto speculated there will be a surge of new New Jersey residents — those exiting neighboring states, such as New York, where the drug isn’t legal.
“There will be new spending, new jobs and new businesses,” Leto said.
Leto said 20 companies traded on the New York Stock Exchange have investments in marijuana dispensaries and ancillary businesses. New Jersey is joining 15 other states and the District of Columbia in allowing the growing, sale and use of medical pot. (Jordan, Ganentt)
