TLDR Points
- New Jersey’s cannabis market is growing like a well-tended weed thanks to new regulations and reforms.
- The Benzinga Cannabis Market Spotlight event is the “hotbox” for industry professionals, discussing industry trends and future projections.
A Quick Shout Out to Other Innovators
In the spirit of innovation, let’s give a nod to some other trailblazers. We have a pre-fab housing company teaming up with a tokenization pioneer, a company that’s revolutionizing battery recycling, and an AI security company that’s just scored big with the US government. But let’s not forget the star of the show, our beloved cannabis.
New Jersey: The Garden State Indeed
In recent years, New Jersey has been cultivating quite a reputation in the cannabis industry. According to the state’s official site, since 2018, when Governor Phil Murphy decided to chill out on medical cannabis regulations, the market has bloomed to a whopping $2 billion in total sales. That’s a lot of green!
In 2023 alone, the Garden State harvested $800 million in sales from medicinal and recreational cannabis. And yes, you heard it right, New Jersey gave recreational weed the green light in 2021.
This rapid growth in the cannabis market is all thanks to Murphy’s administration, who have been busy bees, constructing a comprehensive framework for both medicinal and recreational cannabis. This structure has built a safe and regulated environment, enhancing consumer trust and attracting business investments faster than a lit joint at a party.
Benzinga Cannabis Market Spotlight: The Cannabis Oscars
On June 17, 2024, the cannabis community will descend on the New Brunswick Performing Arts Center for the Benzinga Cannabis Market Spotlight. This event is the “Cannabis Oscars” for entrepreneurs, investors, and professionals from the cannabis industry, focusing on the latest market challenges and opportunities.
Discussions, Networking, and More
The event will cover a range of topics crucial to the current cannabis environment in New Jersey. Discussions will include the transition of the black market to a regulated framework, supply chain logistics, retail challenges, and the regulatory landscape in New Jersey. It’s like a cannabis university, but with networking opportunities instead of frat parties.
Expert Speakers And Industry Leaders: The Cannabis Celebrities
The event’s lineup of speakers includes cannabis celebrities such as Jennifer Cabrera, Jon Purow, and Luna Stower, among others. These experts will share their insights and experiences, enhancing attendees’ understanding of New Jersey and neighboring states’ market dynamics and legal considerations.
Economic Impact And Future Projections: The Green Future
With the state’s cannabis sales expected to exceed $1 billion in 2024, the event will also delve into the economic impacts, including the nearly $62 million collected from sales tax since 2022. This revenue supports social equity investments, highlighting the social and economic benefits of the regulated cannabis market.
New Jersey’s Cannabis Future: The Green Dream
The Benzinga Cannabis Market Spotlight is more than just an event; it’s a platform where the future of cannabis in New Jersey and beyond will be shaped. It’s an essential venue for anyone looking to engage with state officials, industry pioneers, and like-minded professionals aimed at navigating and thriving in this rapidly evolving market.
Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors, and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link. After all, we wouldn’t want you to miss out on the “high”lights!
Unraveling the Distinctions Between Medical and Recreational Marijuana in New Jersey