A state plan announced on July 16, 2018 indicated that New Jersey was in the process of expanding its Medical Marijuana Program (MMP) to include an additional six Alternative Treatment Centers (ATCs – the vertically integrated New Jersey marijuana businesses that cultivate, manufacture, and dispense medical marijuana products to patients), effectively doubling the total number of licensed medical marijuana retailers in operation. These applications were due in August 2018.
New Jersey is expected to release applications for additional licenses in the supply chain late in 2018 or early 2019. These licenses would allow for cultivation or manufacturing independently of dispensing medical marijuana.
New Jersey’s medical marijuana market is projected to be valued at approximately $89 million by the end of 2022, according to Cannabis Business Times, double the anticipated value for 2018.
There are more than 25,000 qualifying patients enrolled and registered with the state’s MMP. And with the MMP expanding its list of qualifying conditions to include five additional medical categories, another 7,000 qualifying patients have since registered.
The state is expected to allow adult use sales within five years, which will open up additional opportunities to entities already operating in the state.
Each of the six Alternative Treatment Centers (ATCs) currently in operation are vertically integrated: cultivating, processing and dispensing medical marijuana products in-house.
Later in 2018, additional licenses will be awarded for businesses that are not vertically integrated. Contact Green Rush Consulting to discuss how to open a marijuana cultivation facility or how to begin manufacturing marijuana concentrates for the New Jersey medical marijuana market. By working with our expert team–who most recently secured one of 12 large-scale marijuana grow facility licenses in Ohio–you will learn how to open a New Jersey marijuana grow facility or how to produce medical-grade marijuana extracts for New Jersey’s patient market.
Content updated October 23, 2018.
Application fees for medical marijuana growers and processors are yet to be announced.
Start-up costs are highly variable, depending on your location, condition of property, scale of business, and type of business.