TRENTON, NJ – New Jersey has reached a significant milestone in its cannabis industry, with the New Jersey Cannabis Regulatory Commission (NJ-CRC) reporting that the state now has 102 medicinal and recreational cannabis dispensaries.
The achievement comes less than two years after the start of adult-use cannabis sales and three years following the establishment of the NJ-CRC. Governor Phil Murphy highlighted this milestone as evidence of progress toward creating a stronger, fairer, and more equitable cannabis market in New Jersey. He praised the NJ-CRC for their dedication and leadership in this vital sector of the state’s economy.
Jeff Brown, the executive director of the NJ-CRC, emphasized the rapid growth of the cannabis industry in New Jersey, contrasting the current number of dispensaries with the 12 alternative treatment centers that existed for over eight years. The state saw recreational cannabis sales totaling $673.9 million in 2023, with medicinal cannabis sales reaching $99.6 million in the first three quarters of the same year. Brown anticipates further growth in sales in the coming years.
Despite the reluctance of more than 60% of New Jersey’s municipalities to host cannabis businesses, the state has managed to distribute operating licenses across every county, ensuring at least one dispensary in 20 of its 21 counties. Brown also noted the expansion beyond dispensaries, with over 200 operating licenses issued, including 23 cultivators and 15 manufacturers. This expansion is expected to foster a competitive market that benefits consumers through better prices, product availability, and quality.
Dianna Houenou, the Commission chair, expressed optimism about the future of New Jersey’s cannabis market. She highlighted the Commission’s commitment to ensuring patient access, safety, and equity within the market. Houenou looks forward to more municipalities welcoming the cannabis industry, which would enhance opportunities for entrepreneurs, offer more purchasing options for consumers and patients, and strengthen the industry overall.