With New Jersey’s legal cannabis market off to a slow start, state officials announced Wednesday they would eliminate the cap on the number of companies allowed to grow weed and make $10 million in grants available to people opening a cannabis business who have been convicted of cannabis offenses or come from poor communities.
The state Cannabis Regulatory Commission unanimously voted to abolish the 37-license limit on cultivators, a rule that would have expired later this month. New Jersey is nowhere near that number, with just 11 companies that grow both for the medicinal and adult-use market and another six that serve only the medicinal program, Commissioner Maria Del Cid-Kosso said.
New Jersey has 1 license per 197,000 residents, far below the national average of 1 license per 31,000 people, she said.
New Jersey also has the fewest number of operational licenses compared to 15 other states with legal weed markets, she said, recommending the commission remove the cultivator limit. The commission agreed, voting 5-0 to let the cap expire.
Read more at nj.com