This post was originally published on this site.
During a recent public meeting, New Jersey cannabis regulators announced that in the first year of legal weed sales, the market brought in just under $700 million in sales revenue.
“Within the year, this will be a $1 billion market,” the Cannabis Regulatory Commission’s Executive Director Jeff Brown said, adding they received 315 conditional license conversions and more than 90 of them are “in the final stage of the process and moving toward board consideration.”
There are now 33 retail stores open to recreational consumers and medical patients in nearly every county — with about a dozen more serving just patients.
Chairwoman Dianna Houenou announced that over the next few months, New Jersey could expect to see more businesses opening their doors to consumers, moves to expand the types of products produced in the state and improved access for medical marijuana patients.
Houneou will be among the featured speakers at NJ Cannabis Insider’s summer business networking event from 6-10 p.m. on July 20 at the Waves Resort Long Branch. Doors open at 5:30 p.m. Reserve tickets here.
Presented by CannaRemedies NJ, the business meetup will also include an informal discussion about what regulators look for in license applications and a primer on the new license classes becoming available in September: Wholesale, Distribution and Delivery.
Joining Houenou during the hour-long speaker program will be:
- Kelly Anderson, CRC deputy executive director
- Megan Tagliaferri, CRC director of Licensing
- Penni Wild, N.J. Business Action Center deputy executive director
- Tauhid Chappell, executive director of the NJBAC Cannabis Training Academy
The networking session at the gorgeous seaside resort will start at 7 p.m. immediately after the speakers are done. The $125 price of ticket includes happy hour eats and two drinks. Garage and metered parking is nearby. Tickets for these events often sellout.
In addition to CannaRemediesNJ, a women-led and operated soon-to-open retail dispensary in Ewing, the event is supported by these sponsors and vendors:
- Hance Construction, NJ Cannabis Insider Founding Sponsor, was selected to build one of the first cannabis grow facilities in New Jersey, and has since worked on other cannabis projects big and small, offering consulting and site-location services.
- New Jersey Business Action Center, which was founded 40 years ago, has helped a range of businesses, from wineries, apparel manufacturers and medical device suppliers. With its new Cannabis Technical Assistance Program, it will now work on helping entrepreneurs in the space.
- All Space, thoughtful space design meets full-service fabrication and installation with over 30 years of experience. Our design and project management team work to understand everything about your needs and vision for your space. Quality and efficiency mean everything to us.
- Viking Pest Control offers pesticide and rodenticide-free solutions for cannabis cultivators and other cannabis businesses. For more than 40 years, Viking has provided businesses prevention services with new technology and sustainable solutions.
- 5S Security, comprised of a team of professionals, ensures rigorous ongoing training, cutting-edge protocols, and tactical expertise for the highest levels of protection and professionalism in the industry. Whether you need armed or unarmed guards, their team of seasoned professionals make sure your cannabis facility remains safe and secure at all times.
Additional sponsors and vendors will be announced as we get closer to event day.
Click here for more details and to purchase tickets. (Note: Availability is limited. As others will tell you, we have had to turn people away recent events.)
NJ Cannabis Insider is a weekly subscriber-based online trade journal and events group produced by NJ Advance Media, which also publishes NJ.com, The Star-Ledger and other affiliated papers. Are you interested in the N.J. cannabis industry? Subscribe here for insider exclusives. Follow us on LinkedIn.