New Jersey has invited applications for licensing their medical marijuana businesses. This licensing process will double the number of MMJ businesses serving the state, from the current 6 to 12.
The New Jersey Department of Health (NJDOH) has released a Notice of Request for Applications (Notice). It points out the reason for issuing the licenses, eligibility rules and information required for the applications.
More than 800 people attended a mandatory pre-application meeting to learn the procedure to secure one of the six licenses. The Health Department has received 530 inquiries about the process in the following weeks.
According to Gov. Phil Murphy, applicants must operate a dispensary that cultivates and manufactures medical cannabis. The facility can be for-profit or a non-profit and must file a business plan along with a budget, specifying revenues and expenses over five years, the administration said.
The six current licensed businesses are not eligible to apply. The governor said there would be two new locations in the northern, central and southern parts of the state.
Criteria of judgment.
Brown said the department expects many applicants and will judge them on the basis of – proof of local municipal support, site control, ability to provide the affordable quantity and quality of medical marijuana to patients, security, financial stability and researched data related to their operational plans.
Important dates.
The deadline for the MMJ applications is August 31. The state expects to select the winning applicants by November 1.
Impact.
Officials say 10,000 new patients have become eligible under the MMJ program since January, bringing the total to 25,000. Increased number of licensed dispensaries will be able to fight supply bottlenecks better. The Marijuana Business Factbook 2018 projects that New Jersey MMJ sales this year will total $30 million-$35 million, up from $20 million-$25 million in 2017.
On its website, the Health Department indicated it could issue even more MMJ licenses given “the unprecedented expansion of the program.”
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