On Friday, the New Jersey Cannabis Regulatory Commission authorized a medical marijuana shop to sell adult recreational marijuana, marking the industry’s next stage of growth.
Friday’s 4-1 vote allowed Harmony Foundation of New Jersey Inc.’s Secaucus dispensary on Meadowlands Parkway to sell adult recreational marijuana.
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The firm’s top executive said the non-profit dispensary, which started in 2018, is ready to sell adult cannabis in Secaucus within weeks.
Harmony President and CEO Shaya Brodchandel told NJ Advance Media in late October that the company planned to enter New Jersey’s adult weed market. He then announced Secaucus would expand to adult weed and open two Hudson County satellite dispensaries in Hoboken and Jersey City.
“This is a momentous day for Harmony, and, we feel, for the expanding cannabis business in New Jersey,” Brodchandel said after the panel decision at the state regulatory agency’s penultimate meeting of the year.
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“As the first New Jersey-based ATC to expand into the adult-use market we are going to prove that cannabis businesses born in our state have the potential to join those multi-state operators and thrive, reinvesting our successes into our local communities,” said Brodchandel. “We prepared for this.”
MSOs—multi-state operators—own and run all 21 medicinal and adult cannabis establishments in New Jersey.
Harmony is a medicinal marijuana-only alternative treatment facility (ATC).
The CRC authorized cannabis operators’ public cannabis lounge rules. The New Jersey Register will post guidelines with legal requirements, applicant fees, facility operations, and prohibited items for 60 days for public discussion.
Atlantic City, which wants public cannabis lounges to bolster its convention and tourism businesses, has been eagerly awaiting the lounge rules.
The CRC also granted 113 conditional licenses, eight annual licenses, and six conditional-to-annual license conversions to cannabis dealers, cultivators, and manufacturers.
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April 21 marked New Jersey’s historic entry into legal recreational marijuana.
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New Jersey has the fewest retailers per capita to supply its population among the 21 states that have legalized it, according to a trade survey.
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Some saw Harmony’s license to sell adult recreational pot on Friday as crucial for the state’s marijuana supply chain because the eight multi-state businesses who have set up shop here have maxed out at three outlets each.
Three of the eight MSOs can open another store. That will bring New Jersey’s adult cannabis stores to 24.
“We are ready to begin welcoming a new demographic of clients, while simultaneously delivering our long-term patients the same exceptional care they deserve and have gotten accustomed to,” Brodchandel said in the release.
Harmony was one of the first six New Jersey Department of Health-approved alternative treatment clinics.
Since June 2018, the Secaucus site’s permit has been renewed annually by the state under the state’s Medicinal Cannabis Program. The facility cultivates and dispensaries.
On Friday, the CRC approved Harmony’s Lafayette site to produce adult weed.
Harmony’s CEO said it would give medical patients and their registered caregivers exclusive hours, designated service areas, discount eligibility, delivery services, and curbside pickup even after entering the recreational marijuana market, as required by the CRC.
“We have an established track record of supporting the medicinal cannabis community for many years, and we will not turn our backs on people that use our products for health,” Brodchandel added. Regulators say Harmony’s medicinal marijuana pricing is among the lowest in the state.
The CEO stated Harmony is dedicated to New Jersey. “As Harmony continues to grow and achieve even greater business success, our core mission will match Governor Murphy’s intentions for the industry and be a force for lifting up others that have previously not been afforded entrepreneurial success.”