In short, YES!
Which licenses are currently available?
New Jersey has decided to accept applications on a rolling basis for Class 1 Cannabis Cultivator, Class 2 Cannabis Manufacturer, and Class 5 Retailers. Therefore, the application window is still open. There are still two avenues to licensure: Conditional and Conversion to Annual Application OR an Annual Application. While each has different requirements, the end result of each is the same, a license to operate a cannabis business. One of the requirements for both licenses is municipal support. This, and securing property, continue to be the largest barriers to entry in the New Jersey Cannabis Market. Canna Business Services regularly monitors updates to New Jersey municipal cannabis ordinances and many townships who originally opted out of permitting cannabis businesses are reconsidering.
Should I really apply now?
This may be the best time to get into the market as more municipalities opt in and the New Jersey Cannabis Regulatory Commission continues to demonstrate an increase in their review time of applications. The Commission does reserve the right to stop accepting applications at any time, so if you’re considering breaking into the industry in New Jersey, now is the time to do it!
What is the next step?
Curious about your options? Contact Canna Business Services today – we’d love to hear from you!