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New Jersey CANNABIS STATISTICS AND FACTS FOR 2022

In this article about New Jersey cannabis statistics and facts, we have broken down everything you need to know about the market, consumers, news, and important details. This page is evergreen, meaning that we will keep it updated and stocked with the key facts, data, and information as the market develops and matures. Be sure to bookmark this page for more updates.

Table of Contents

New Jersey Cannabis Laws

Where can I get direct information about New Jersey cannabis laws?

New Jersey’s Cannabis Regulatory Commission runs a website where you may get up-to-date information about the state’s marijuana legislation. On the CRC website, you can find information about the rules for cannabis, upcoming commission meetings, and possible opportunities the new industry might bring.

What is the best way to keep up with New Jersey cannabis laws as they develop? 

Aside from the website, various online sources can keep you updated about new developments in the New Jersey cannabis laws, including

Cannaspire also provides a summary of New Jersey cannabis state updates and updates for other states. You can subscribe by clicking here.

New Jersey Legality by Municipality

As of March 2022, 29% of New Jersey municipalities have embraced the cannabis industry after 35 towns that had previously banned all cannabis businesses approved legislation allowing at least one type of licensed cannabis business to operate inside their boundaries. 22 municipalities that previously prohibited all legal marijuana businesses now allow retail sales, 3 towns that previously authorized certain cannabis usage but not retail outlets have later approved retail, and 10 towns that previously completely prohibited cannabis have legalized certain components of the business but not retail outlets.

Source: USA TODAY NETWORK

New Jersey Cannabis Use

What percentage of New Jersey residents use marijuana?

A conservative estimate puts the number of prospective recreational consumers at around 800,000. Considering the entire population of New Jersey, the population over 21, and the usage rates in other states, it is predicted that about 12% of New Jerseyans over 21 may be cannabis users.

Source: New Jersey Cannabis Regulatory Commission

How many people participate in the medical cannabis program?

There are approximately 130,000 patients registered in the New Jersey Medical Cannabis Program as of April 2022.

Source: New Jersey Cannabis Regulatory Commission

What is the demand for marijuana in New Jersey?

According to the projections of the New Jersey Cannabis Regulatory Commission, the demand for medicinal marijuana will total 100,000 pounds over the course of a year, while the potential demand from recreational marijuana users will be around 260,000 pounds each year.

Source: New Jersey Cannabis Regulatory Commission

How many are the estimated “tourism” cannabis consumers?

According to the New Jersey Cannabis Regulatory Commission, it is estimated that there will be approximately 800,000 “tourists,” or potential customers from other states, looking to purchase recreational marijuana in the state. These customers could be traveling to New Jersey either from neighboring states or as tourists.

Source: New Jersey Cannabis Regulatory Commission

New Jersey Cannabis Criminality

How much did it cost to enforce the drug war in New Jersey?

The drug war in New Jersey cost at least $11.6 billion over the course of ten years, which works out to an annualized average of $1.2 billion. The state spent $5.1 billion on arresting people, $2.2 billion on prosecuting individuals, and $4.3 billion on incarcerating people.

Source: New Jersey Policy Perspective

What is the cannabis-related arrest history in New Jersey?

Between 2010 and 2015, New Jersey’s adult cannabis arrests changed little. Between 2010 and 2015, adult arrests rose from 21,884 to 24,118. In 2016, there were 32,066 arrests, while in 2017 there were 34,536. Between 2010 and 2019, overall arrests rose by 40%. 

Source: Rutgers

How many marijuana offenses have been expunged in NJ since decriminalization?

More than 362,000 marijuana and hashish cases have been removed from court records in New Jersey since the Marijuana Decriminalization Law went into effect on July 1, 2021. After having their records wiped, more than 1,200 people have been granted early termination from their probation terms.

Source: New Jersey Courts

Size of the New Jersey Cannabis Market

How much tax revenue does New Jersey make from its cannabis program?

Governor Philip D. Murphy’s proposed budget for the fiscal year 2023 projects revenues of $19 million within a total budget of over $49 billion. In 2019, when the question of whether or not to legalize marijuana for recreational use was still up in the air, he anticipated that the industry would bring in around $60 million.

Source: Official Site of The State of New Jersey 

How big is the opportunity in New Jersey?

According to MJBizDaily’s projections, the annual sales of recreational marijuana in the state of New Jersey will increase from $625 million to $775 million in 2022, and then they are set to exceed $2 billion by 2025 or 2026.

Source: MJBizDaily 

Medical Cannabis

How many are registered physicians?

As of April 2022, there are 968 physicians registered with the medicinal marijuana program in the state of New Jersey.

Source: New Jersey Cannabis Regulatory Commission

Do I need a license to sell CBD in NJ?

When it comes to the legality of selling CBD products, there are several factors to consider, including how products will be used and how they will be branded. Find out more about the FDA’s regulations by visiting their website. As CBD products are derived from hemp, they are subject to the Federal Food, Drug, and Cosmetic Act of the United States Food and Drug Administration (FDA).

Source: New Jersey Cannabis Regulatory Commission

How do I start a CBD business in NJ?

To start a CBD business in New Jersey, you must first complete a comprehensive application procedure with the New Jersey Department of Agriculture (NJDA) and sign a Processor/Handler Licensing Agreement if you want to process or handle hemp products in the state.

Source: New Jersey Cannabis Regulatory Commission

How much does it cost to open a dispensary in NJ?

Two payments are required to open a medicinal dispensary in the state of New Jersey; the first payment is $2,000, and the second payment is $18,000. If the license is not granted, the payment of $18,000 may be refunded.

Source: New Jersey Cannabis Regulatory Commission

Recreational Cannabis

How much recreational marijuana was sold in NJ in the first month?

Sales surpassed $24 million in the first month since legal recreational sales started in the state on April 21, 2022. The total amount of money made from the sale of marijuana was $24,201,875.38 and there were 212,433 transactions. The weekly sales average was approximately $5 million.

Source: NJ.com

In New Jersey, how many jobs will be created by the cannabis industry? 

30,000 to 40,000 new jobs may be created in the New Jersey cannabis industry. This is based on the statistics that show that for every million dollars’ worth of cannabis that is sold in a state once it has been legalized, 14–18 new jobs are created.

Source: NJ.com

How much do dispensary owners make?

Here are some of the dispensaries currently open in the state of New Jersey and their revenue:

What licenses are needed to start a dispensary in New Jersey?

To start a dispensary in New Jersey, the state requires a Class 5 Cannabis Retailer license. This enables retail sales of recreational marijuana. Applicants may also apply for a temporary conditional license, which permits a business to engage as a cannabis retailer while satisfying full licensing requirements. An applicant may apply for an annual license if they meet all requirements.

Source: New Jersey Cannabis Regulatory Commission

How to open a dispensary in New Jersey in 2022

In New Jersey, you will need to get a business license if you want to open a dispensary. Before you apply, you should look into the rules for cannabis businesses in the city where you want to open your business and see if you qualify as a priority applicant. Check off everything on the pre-application checklist, and read the application guide.

Source: New Jersey Cannabis Regulatory Commission

How to apply for a dispensary license in New Jersey

In order to apply for a dispensary license in New Jersey, applicants are required to create at least one account on the application submission portal maintained by the Commission. Also, people who want to get a license have to send all of the information and forms that the Notice of Application requires through the online application portal.

Source: New Jersey Cannabis Regulatory Commission

How to become a grower in New Jersey

Get a Class 1 Cannabis Cultivator license if you want to become a cannabis grower in New Jersey. A grower license will be given to a person or business that grows or cultivates cannabis to sell to other growers, manufacturers, wholesalers, or retailers, but not to direct customers.

Source: New Jersey Cannabis Regulatory Commission 

When will dispensaries open in New Jersey?

On April 21, 2022, dispensaries opened in the state of New Jersey, allowing adults to purchase marijuana for recreational use. Consumers in the state can now legally buy up to an ounce of marijuana per transaction if they want to use it for recreational purposes.

Source: NJ.com

How do I write a business plan for a dispensary?

An effective New Jersey marijuana business plan must contain the following elements:

  • Executive Summary
  • Market Analysis and Identification of Target Market
  • Industry Ratio Comparisons
  • Sales Forecasting for Three to Ten years
  • Projected Profit and Loss (P&L)
  • Company Balance Sheet
  • Start-up Funding Analysis
  • SWOT Analysis
  • Competition and Buying Patterns for your Industry (Competitive Analysis)
  • Cash Flow

Source: Cannaspire

How much is a dispensary license in NJ?

The cost of opening a dispensary in New Jersey includes:

Type of Fee

Amount

Licensing Fee

$10,000

Application Submission Fee

$200

Approval Fee:

$800

Unless the Commission specifies otherwise, all fees are nonrefundable.

Source: New Jersey Cannabis Regulatory Commission

Where to buy cannabis

Patients and adults of legal age may purchase cannabis and cannabis products at any of the approved dispensaries in New Jersey that are listed on this website. Take note that some establishments only sell medicinal cannabis and cannabis products.

Source: New Jersey Cannabis Regulatory Commission

Conclusion

Those are all the important New Jersey Cannabis stats, facts, and data for now. Hopefully, this has helped you with whatever information you are gathering. What are your thoughts on the New Jersey market? Let us know by sending us a message. If you are interested in learning more about the cannabis program in the state of New Jersey, you can learn more by visiting this post. If you’d like to keep up-to-date with the critical details of the New Jersey market, business opportunities, and legal updates, please subscribe to our newsletter below. 

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The post NEW JERSEY CANNABIS STATISTICS AND FACTS FOR 2022 first appeared on Cannaspire.]]> https://cannaspire.com/new-jersey-cannabis-statistics-and-facts-for-2022/feed/ 0 New York Cannabis Statistics and Facts for 2022 https://cannaspire.com/new-york-cannabis-statistics-and-facts-for-2022/ https://cannaspire.com/new-york-cannabis-statistics-and-facts-for-2022/#respond Wed, 11 May 2022 06:26:46 +0000 http://cannaspire.com/?p=7861 New York Cannabis Statistics and Facts for 2022 Projected to be the largest cannabis market in the United States, New York is just getting started on its cannabis journey. In […]

The post New York Cannabis Statistics and Facts for 2022 first appeared on Cannaspire.]]>

New York Cannabis Statistics and Facts for 2022

Projected to be the largest cannabis market in the United States, New York is just getting started on its cannabis journey. In this article, we have broken down everything you need to know about the market, consumers, news, and important details. This page is evergreen meaning that we will keep this updated and stocked with the key facts, data, and information as the market develops and matures. Be sure to bookmark this page for more updates.

Table of Contents

New York Cannabis Laws

Where can I get direct information about New York Cannabis Laws? 

The Office of Cannabis Management maintains a webpage where you may acquire direct information on New York’s cannabis laws. The OCM website provides information on cannabis regulations, health and safety information, and opportunities that may arise as a result of the new industry.

What is the best way to keep up with New York cannabis laws as they develop? 

There are various sources online that will keep you updated with this type of information including

Cannaspire also provides a summary of New York Cannabis state updates and updates for other states. You can subscribe to this by clicking here. 

New York Legality by Municipality

Out of the 1,520 municipalities in New York, 764 have voted to opt out of dispensaries, and 883 have decided to opt out of consumption sites. Here is a list of municipalities that have chosen to ban adult-use marijuana retailers and on-site consumption lounges.

Source: Rockefeller Institute of Government

New York Cannabis Use

What percentage of New Yorkers use marijuana? 

Eight to ten percent of the adult population in New York State, which has 15.1 million individuals, use marijuana. This equates to around 1.5 million consumers throughout the state. This is according to the 2018 report of New York City Comptroller Scott Stringer.

Source: CNBC

How many people participate in the medical cannabis program?

A total of 125,416 registered patients are now participating in the New York Medical Cannabis Program. In addition, there are also 3,645 certifying practitioners working in the industry according to the most recent available data on April 5, 2022.

Source: Office of Cannabis Management

Do the people of New York believe that cannabis is safe?

72% of New York state voters feel adult-use cannabis is safe and, in many situations, may be beneficial in encouraging wellbeing, according to a poll done by the Siena College Research Institute in February 2021. 

Source: Siena College Research Institute

Will the legalization of marijuana lead to a rise in the usage of marijuana among young people in New York?

57% of New York state voters believe the legalization of recreational marijuana will not lead to an increase in the usage of marijuana among young people under the age of 21 in the state. Meanwhile, 34% think it will, with the remaining 9% not knowing for sure.

Source: Siena College Research Institute

New York Cannabis Criminality

How much did it cost to enforce cannabis prohibition in New York?

The total cost attributed to marijuana prohibition in New York is $17,464,186, according to a report. $8,296,127 million of that was allocated to the police, $3,585,521 million to the courts, and $5,582,538 million to correctional facilities.

Source: The Budgetary Implications of Drug Prohibition

How many people are currently in jail or prison for cannabis convictions?

33 marijuana arrests were reported in the fourth quarter of 2021 in New York City. Women make up two of the arrestees while men make up the rest. 14 of the people arrested were between the ages of 35 and 65; 13 were between 25 and 34; five were between 20 and 24, and one was under the age of 20.

Source: New York Police Department

Are there underground cannabis companies in New York?

There are underground cannabis companies taking advantage of gaps in state law and selling cannabis at illegal outlets, most of which have sprung up in neighborhoods around New York City. In May 2022, New York’s Office of Cannabis Management issued more than 50 cease-and-desist letters. The OCM has criticized these outlets, labeling them as “illegal.” 

Source: Greenentrepreneur

Size of the New York Cannabis Market

How much tax revenue does New York make from its Cannabis Program?

New York stands to earn more than $1.25 billion in marijuana tax revenue over the following six years, according to an estimate contained in Gov. Kathy Hochul’s Fiscal Year 2023 Executive Budget announced in January 2022.

Source: Governor Kathy Hochul

How big is the opportunity in New York?

Approximately 743 million U.S. dollars is estimated to be the value of marijuana sales in New York in 2025, according to one estimate. Economically and professionally, the legalization of cannabis will be a game-changer, opening doors for previously underserved areas that have been harmed by prohibition.

Source: Statista 

Medical Cannabis

How many people have a certifying provider and a medical cannabis dispensary?    

The findings of a cross-sectional analysis revealed that 1073 (22.1 percent) of the 4858 census tracts in New York had at least one certifying provider and 37 (0.8 percent) had at least one medical cannabis dispensary. Suburban census tracts were 62 percent less likely than urban census tracts to have at least one certified provider.

Source: BMC Public Health 

Do I need a license to sell CBD in NY?

Businesses that sell CBD products to customers in New York (both online and in-person) are required to get a Cannabinoid Hemp Retail License from the Office of Cannabis Management (OCM) as part of the Cannabinoid Hemp Program. The Cannabinoid Hemp Retail License is $300 per site and is valid for one year.

Source: Office of Cannabis Management

How do I start a CBD business in NY?

8 Steps for Starting a CBD Business in New York:

  1. Find out who your ideal customer is.
  2. Research local and federal CBD rules.
  3. Make a business plan.
  4. Get your CBD business registered.
  5. Find reputable merchant services.
  6. Decide on a pricing strategy.
  7. Set up a shipment and handling plan.
  8. Advertise your CBD business.

How much does it cost to open a dispensary in NY?

In New York, obtaining a medical business license to sell marijuana costs:

Type of Fee

Amount

Non-refundable Application Fee

$10,000

Initial Permit Fee

$200,000

Recreational Cannabis

How many people plan to or are already operating in New York?

60% of nearly 100 respondents intend to or are currently operating a cannabis business in the state of New York, according to the results of a survey conducted by Esta Bigler, the Director for Labor and Employment Law Programs at Cornell University.

Source: Syracuse

In New York, how many jobs may be created by the cannabis industry? 

$2.6 billion in cannabis retail sales could ultimately employ approximately 50,806 people in the state and generate $2.2 billion in annual employee compensation, according to a study published by James A. Parrott and Michele Mattingly in February 2021.

Source: Marijuana Economic and Revenue Impact Report

How much do dispensary owners make?

Here are some of the dispensaries currently open in the state of New York and how much they make annually:

  • Citiva Medical LLC Doing Business As Be. – $5.71 million 
  • Columbia Care NY LLC – $75.69 million
  • Etain, LLC – $1.47 million

Source: DNB

What licenses are needed to start a dispensary in New York?

At this time, to start a dispensary in New York, you should be eligible for a conditional adult-use retail license. People who are deemed to be “justice-involved” will be the first licensed retailers in the state. A conditional adult-use retail dispensary license is valid for four years, with a two-year obligatory renewal. After the four-year conditional term, license holders may seek to transition to a standard retail dispensary license. This article will be updated with further information when there is news of other opportunities.     

Source: Office of Cannabis Management

How to open a dispensary in New York in 2022

To get a conditional adult-use retail dispensary license in New York, there is a $2,000 non-refundable application and license fee. The rules and regulations specify 34 specific types of information that each application will be required to submit in order to be considered.

Source: Office of Cannabis Management

How to apply for a dispensary license in New York

To be considered for a conditional adult-use retail dispensary license, applicants must:

  • have pre-MRTA cannabis-related offenses;
  • have owned at least 10% of a profitable business for two years;
  • be a New York resident if applying as an individual;
  • have a major corporate presence in New York, or be established under New York laws if applying as an entity.

Source: Office of Cannabis Management

How to become a grower in New York

Application and License Fee: In New York, obtaining an adult-use conditional cultivator license costs $2,000 in non-refundable fees. Those who qualify for a conditional cultivator license for adult-use cannabis may grow cannabis that contains more than 0.3 percent THC for the emerging recreational market.

Source: Office of Cannabis Management

When will dispensaries open in New York?

The first conditionally licensed dispensaries in New York are slated to open their doors by the end of the year 2022 and start selling legal cannabis to adults for recreational purposes. Applications for retail licenses are expected to open in the summer of 2022, with licenses being awarded in the late summer or early autumn of the same year.

Source: NBC New York 

How do I write a business plan for a dispensary?

An effective New York marijuana business plan must contain the following elements:

  • Executive Summary
  • Market Analysis and Identification of Target Market
  • Industry Ratio Comparisons
  • Sales Forecasting for three to ten years
  • Projected Profit and Loss (P&L)
  • Company Balance Sheet
  • Start-up Funding Analysis
  • SWOT Analysis
  • Competition and Buying Patterns for your Industry (Competitive Analysis)
  • Cash Flow

Source: Cannaspire

How much is a dispensary license in NY?

Application and licensing fee: In order to get a conditional adult-use retail dispensary license in New York, a $2,000 non-refundable application and license fee is required.

Source: Office of Cannabis Management

Where to buy cannabis

These online directories can help you find where to buy cannabis in New York:

Directory websites may assist you in narrowing down your search by giving information on a range of different items and brands. These directories can help you locate cannabis-related things and may even organize delivery services for you. Moreover, they provide reviews and directions on how to do things.

At this time, there are only medical marijuana dispensaries in the state of New York. No one has been granted a license to sell recreational cannabis as of yet. We’ll be updating this section as soon as licensed recreational marijuana dispensaries become available.

Conclusion

Those are all of the important New York Cannabis stats, facts, and data for now. Hopefully, this has helped you with whatever information you are gathering. What are your thoughts on the New York market? Let us know by sending us a message. If you are interested in learning more about the cannabis program in the state of New York, you may learn more by visiting this post. If you’d like to keep up-to-date with the critical details of the New York market, business opportunities, and legal updates please subscribe to our newsletter below. 

Subscribe

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