New Jersey Takes a Major Step Forward in Cannabis Industry with First Consumption Lounges
The New Jersey Cannabis Regulatory Commission (NJ-CRC) has officially approved the state’s first four marijuana consumption lounge endorsements, marking a significant milestone in the state’s cannabis program. The four approved businesses, High Rollers Dispensary, SunnyTien Dispensary, Gynsyng, and URB’N Dispensary, come from the diversely owned licensee category.
The NJ-CRC chairwoman, Dianna Houenou, hailed the development as a major step forward, stating that the designated spaces provide consumers with safe and legal options for cannabis consumption. She added that the areas will also help to support the state’s cannabis industry, generating more tax revenue and creating jobs.
The approved consumption lounges will be required to uphold rigorous standards to ensure that the areas remain secure, well-managed, and compliant with state law. The endorsement application fee is $1,000, and there are also annual licensing fees ranging from $1,000 to $5,000.
This development comes after the NJ-CRC opened up applications to operate cannabis consumption lounges from all licensed marijuana dispensaries earlier this month. The commission has been accepting applications since January, with the first round being reserved for social equity marijuana licensees, followed by diversely owned businesses and microbusinesses.
The addition of cannabis consumption areas is expected to have a positive economic impact on the state, generating more tax revenue from marijuana sales and annual fees. Meanwhile, New Jersey officials have also launched a no-cost marijuana training academy to support entrepreneurs interested in entering the cannabis industry.
Separately, a bill has been filed in the New Jersey Senate to re-criminalize purchasing marijuana from unlicensed sources, aiming to crack down on the illicit market and steer adults towards licensed retailers. Additionally, a former Senate leader has called for medical marijuana patients to be allowed to grow their own cannabis plants for personal use, a move that could potentially benefit the state’s cannabis industry.
