New Jersey recreational marijuana sales for people 21 and older will begin April 21, Democratic Gov. Phil Murphy said Thursday. “This is a historic step in our work to create a new cannabis industry,” said Murphy, who tweeted. GET FOX BUSINESS IN ENGINE BY CLICKING HERE The news comes just three days after state regulators gave the green light to seven plants already selling medical cannabis to start the marijuana retail business. It is also about a year after the state regulatory commission took office and a year and a half after voters overwhelmingly approved a ballot question to allow recreational marijuana for people 21 and older. New Jersey and 17 other states, along with the District of Columbia, have legalized recreational marijuana. Thirty-seven states, including New Jersey, have legalized medical marijuana. Leisure sales in New Jersey are expected to begin before New York, where sales are not expected to begin until the end of the year, state officials said. TENNESSEE 1ST LEGAL CANNAVIS RESTAURANT IS COMING THIS SPRING Neighboring Pennsylvania has medical cannabis but not recreational. Some cities, including Philadelphia and Pittsburgh, have passed decrees decriminalizing marijuana or making it a low law enforcement priority. Delaware legislation allowing recreational marijuana was defeated in the legislature last month. FILE – Heather Randazzo, a growing employee at the Compassionate Care Foundation’s medical marijuana clinic, cuts marijuana plants at the company’s plant in Egg Harbor Township, NJ (AP Photo / Julio Cortez, Archive) (AP Photo / Julio Cortez, File) / AP Newsroom) Three of New Jersey’s seven facilities, known as alternative therapy centers, are located in the northern part of the state. Three are in the south and one in the center. To get approval, the centers agreed that the upcoming influx of entertainment buyers will not cut off patients’ access. The facilities said they would reserve parking spaces for patients, as well as reservation-only hours for patients. There are about 130,000 medical marijuana patients in the state, with about 800,000 potential recreational consumers and less than 800,000 estimated “tourism” consumers, according to the Commission. THE 1st RETAIL CANNABIS LICENSE IN NYA WILL SELL TO PEOPLE WITH MARJUANA CASES: “SOCIAL CAPACITY” Ben Kovler, CEO of Green Thumb Industries, which operates clinics in several states, is preparing to start recreational sales at its Paterson and Bloomfield facilities. Kovler said he expects a “tidal wave” of demand. “We are witnessing the end of the 2.0 ban,” he said in an email. A customer buys medical marijuana at a drugstore in Auckland, California. (REUTERS / Robert Galbraith / Reuters Photos) Alternative medicine centers that already had medical cannabis retail sales are taking the lead in the leisure market, but regulators have pledged to their advantage. Centers must meet social justice standards, such as providing technical knowledge to new marijuana businesses, especially those seeking social equality – those in financially difficult areas of the state or people with cannabis-related offenses. ATTEMPT TO LEGALIZE VICTORY IS AHEAD “We remain committed to social equality,” said Cannabis Regulatory Commission chairwoman Diana Huenu in a statement. “We promised to build this market on the pillars of social equality and security. Ultimately, we hope to see businesses and a workforce that reflect the diversity of the state.” It is unclear how much tax revenue New Jersey receives from recreational marijuana. Murphy’s budget for fiscal year 2023, which is pending before the Democratic-led legislature, estimates revenue of just $ 19 million in a budget of nearly $ 49 billion. In 2019, as the legalization of marijuana for entertainment was still pending before voters, it had estimated about $ 60 million in revenue. CLICK HERE TO READ MORE ABOUT FOX BUSINESS Leisure market law requires a 6,625% sales tax, with 70% of revenue going to areas disproportionately affected by marijuana-related arrests. Black people were up to three times more likely to face marijuana charges than white people. Cities can also impose a tax of up to 2%.
