the staff of the Ridgewood blog
Trenton NJ, the New Jersey Cannabis Regulatory Commission approved the first 18 annual licenses for cannabis businesses. Eight of the applications were for direct to annual license applicants, and 10 were applications to convert existing conditional licenses to annuals.
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“This is a special milestone for the Commission and for New Jersey’s new legalized industry. With the awarding of eight cultivation licenses and three manufacturing licenses we are setting good groundwork for New Jersey’s cannabis market,” said Commission Chairwoman Dianna Houenou. “We hope to see these facilities up and running as soon as possible to be local Garden State suppliers to the seven retailers who also got their annuals today and the others that will be licensed in the future.”
297 more conditional licenses were also approved today, bringing the total number of conditional licenses awarded since March to 801.
Other actions taken by the Commission today included:
- Extending the length of time certain conditional license awardees have to apply for conversion to an annual license, and
- Increasing the Social Equity Excise Fee cultivators will pay for 2023 to $1.52 per ounce (from $1.10 per ounce).
New Jersey CannaBusiness Association (NJCBA) President Edmund DeVeaux issued the following statement regarding the New Jersey Cannabis Regulatory Commission (NJCRC) approving nearly 300 conditional and annual licenses at their meeting today:
“First and foremost, we want to congratulate all of today’s license awardees. This is a momentous day for them and for the state as we move closer to the kind of thriving cannabis market New Jersey is capable of.
“Today’s events are even more special for us because several awardees were watching from our “Cannabis Connection 2022” event. To be with them as they received the good news was a great feeling. We were honored to, in essence, host the very first NJCRC watch party. Congratulations again to all of today’s awardees. We look forward to the next round of progress.”
