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New Jersey’s cannabis industry now boasts 126 dispensaries as of May 2024.
This rapid expansion follows the legalization of adult-use cannabis sales less than two years ago and highlights the booming cannabis market.
Governor Murphy Praises Progress
Governor Phil Murphy celebrated this milestone, reflecting on the progress made since establishing the New Jersey Cannabis Regulatory Commission (NJ-CRC).
“Reaching 100 cannabis dispensaries is a huge milestone that shows we are headed in the right direction,” Murphy said in a prepared statement. “I am grateful to the Cannabis Regulatory Commission for their dedicated work and leadership in this critical area of our economy.”
Jeff Brown, NJ-CRC‘s executive director, expressed enthusiasm about the industry’s swift growth.
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Brown previously worked with the state’s Medicinal Marijuana Program and now oversees the broader regulatory framework for cannabis. He emphasized that the rise from 12 alternative treatment centers to over 100 dispensaries illustrates the strong consumer demand and market potential in New Jersey.
Financial Milestones
The financial impact of this growth is significant. Recreational cannabis sales reached nearly $674 million in 2023, while medicinal cannabis sales approached $100 million in the first three quarters. Brown anticipates that these numbers will continue to increase, indicating a healthy market.
Dispensary Distribution Across the State
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