Keeping pace with the ever changing state and federal regulations of being a cannabis employer is complicated. A misstep can be financially devastating.
New Jersey has seen a lot of movement in the cannabis industry recently, with officially legalizing recreational marijuana about six months ago and releasing 160 pages of recreational marijuana regulations just last week.
Though the state has legalized adult use of the drug, individual towns still have the right to ban recreational marijuana establishments in their municipalities if they so choose. So far, nearly 70% of New Jersey towns have already approved local ordinances doing just that: banning recreational marijuana retail businesses.
By contrast, close to 100 New Jersey towns have passed laws that will allow for adult-use cannabis retailers, growers, manufacturers, and other cannabis business types. An additional 41 towns have approved ordinances that ban cannabis retail, but allow other types of companies (distributors, growers, etc.).
This seems to be a common trend within certain states across the nation, as California and Colorado faced similar challenges. But, over time, many CA and CO municipalities eventually opted to allow recreational marijuana businesses.
We will not see the number of towns opting to ban adult-use cannabis businesses increase as all New Jersey municipalities faced a hard Aug. 21 deadline to opt out of the industry. There is now a five-year moratorium on such bans.
What does this mean for you and your cannabis business?
As of right now, there is not a definite date for when recreational marijuana sales will begin in New Jersey. This most likely means that many New Jersey residents 21 and older who partake in cannabis consuming activities are crossing state borders to purchase their cannabis products from neighboring states/districts where retail sales have already begun: Massachusetts and Washington, D.C.
Now is a better time than ever for retail cannabis businesses in both MA and D.C. to capitalize on the fact that there is, for the foreseeable future, less retail competition.
As consumer demands potentially increase due to New Jersey legalizing adult-use marijuana but not yet regulating it, the only thing more difficult than running your own cannabis-based business is dealing with the needs of human capital. That’s where we come in. From HR, to payroll, to managing benefits, we aim to provide pioneering, comprehensive human resources
delivery through our combination of deep industry expertise, cutting-edge technology, and world-class service.
Don’t take our word for it. Fill out the form below or give us a call and let us show you how we can ease the stress of being a cannabis business owner by taking on some of those annoying, administrative tasks for you.