N.J. legal weed’s opening day crowds topped 12,000 — and they spent big

Published: Apr. 27, 2022

The opening of New Jersey’s legal weed industry at a dozen stores statewide last Thursday drew more than 12,000 customers, exceeding expectations, the panel that green-lighted the launch said Wednesday.

The state’s 12 participating dispensaries sold cannabis and cannabis products to 12,438 recreational cannabis customers for a total gross sale of nearly $1.9 million, according to the New Jersey Cannabis Regulatory Commission.

“We expected sales to be substantial and the data shows that the market is effectively serving both adult-use consumers and patients,” said Jeff Brown, executive director of the commission. “We continue to monitor inventory and access for patients and are prepared to take enforcement action against any ATC that does not meet the requirements for patient access and supply.”

The commission said sales of medicinal cannabis products have also been strong over the last 30 days with approximately 64,000 ounces of products dispensed to patients and their caregivers.

The dozen stores that launched adult sales last Thursday were owned by seven medical dispensaries, also known as alternative treatment centers, that received approval from the CRC earlier this month to expand from servicing the medical patient population to also adult recreational users of cannabis.

The seven companies are: Verano, Curaleaf, GTI, Ascend, Columbia Care, TerrAscend, and Acreage.

On April 20 – the day before adult-use sales began – the alternative treatment centers dispensed 5,400 ounces of medicinal cannabis and cannabis products across New Jersey.

In the five days following the beginning of adult-use sales, an additional 7,500 ounces were dispensed to patients, the commission said.

The CRC said there were no major incidents at the dispensaries despite the long lines and steady business since last Thursday’s launch.

There also have not been any substantiated reports of supply problems for medicinal cannabis patients - which had been a chief concern prior to the commission’s signing off on adult use sales.

The commission said it continues to monitor and respond to complaints to ensure patients have adequate supply and access.

The state gets its cut too from the robust first day sales. New Jersey subjects recreational cannabis to a 6.625% sales tax as well as additional local and excise taxes.

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published this page in News and Politics 2022-04-28 03:24:50 -0700