No person meaningfully involved with New Jersey’s medicinal and/or recreational marijuana programs underestimates that market’s complexity and close oversight.
We underscore those tangibles at the proven New Jersey law firm of Decotiis, FitzPatrick, Cole & Giblin, speaking from the perspective of our long history of client advocacy in highly regulated industries. We stress on our website the “significant legal, regulatory and business challenges” that would-be entities and existing enterprises face when interacting with cannabis laws and processes.
The industry – still fledgling in many ways – has proven to be marked by uneven though persistent growth, with ongoing developments strongly pointing toward material expansion.
Recent news is evidence of that.
To wit: State regulators announced their approval of yet another medical marijuana dispensary’s cannabis growing operations. The grow license granted to the company Justice Grown is the 12th permit conferred on New Jersey businesses.
Approval has not been an automatic process for applicants. A recent article on the state of New Jersey’s legalized marijuana industry notes that many would-be licensees are currently stalled in a bureaucratic maze and related litigation. Reportedly, about 150 applicants are presently “in limbo.”
Still, the road forward for potential industry participants seems both wide and inviting, provided that they rigorously comply with all exactions mandated for legal entry. Officials say that they plan to grant additional licenses to myriad medical pot operations spanning the state.
Moreover, New Jersey is home to approximately 75,000 individuals who are authorized to receive cannabis under the state’s medical marijuana program. Lawmakers have deemed companies operating in the cannabis industry as essential businesses.