New Jersey wants to add 50 to 90 medical hashish dispensaries within the subsequent three years and more cultivation amenities to maintain tempo with present market demand, in accordance to a state report issued this week that holds out the potential of further MMJ enterprise alternatives.
The report, launched by the New Jersey Department of Health, stated the state’s six vertically operated companies almost doubled their revenues from $29 million in 2017 to $53 million in 2018.
The variety of sufferers has surged 150% since January 2018, to more than 42,000.
Gov. Phil Murphy’s administration already has taken steps to broaden the medical hashish market by including qualifying medical circumstances and issuing six further licenses for vertically-integrated companies.
Murphy lately stated he needs to proceed to broaden the market as a backup plan after state lawmakers’ current failure to cross laws legalizing leisure marijuana.
If adult-use have been to cross later this yr, it’s unclear how that improvement would influence the medical hashish dispensary forecast.
In mature rec marijuana states, MMJ gross sales ultimately decline. But it will take a number of years for the New Jersey adult-use market to attain maturity.
For more particulars concerning the state of affairs in New Jersey, click on right here.