MJBizMag April 2023 - 24

INDUSTRY DEVELOPMENTS State by State
New Jersey
In a bid to boost a sagging adult-use marijuana market and encourage minority participation, New
Jersey state regulators abolished the state's cultivation license cap.
New Jersey's legalization law capped the number of large cultivation licenses at 37 for an initial twoyear
period that expired Feb. 22.
To date, only 17 cultivation facilities have opened in New Jersey, according to the Cannabis
Regulatory Commission, which said the state would need " nearly 850 more " to meet the national
average.
Adult-use sales in New Jersey kicked off last April. But so far, the recreational market has been
dominated by multistate operators active in the medical marijuana space before full legalization.
Of New Jersey's 17 existing cultivation licensees, six are medical-only and 11 can grow for both the
adult-use and medical markets.
New Mexico
Sales of regulated recreational and medical marijuana totaled $40.2 million in January.
Data from the state cannabis regulator shows that the monthly total includes roughly $26.5 million
in adult-use sales and $13.8 million in medical marijuana sales.
Average sales per purchase in January totaled $42.62 across 620,751 adult-use transactions and
$49.83 across 275,983 MMJ transactions.
The state had 585 total sales outlets as of January, according to the Cannabis Control Division of the
New Mexico Regulation & Licensing Department.
New York
Regulators doubled the number of available retail licenses for adult-use marijuana social equity
applicants to 300.
Recreational cannabis licenses will increase proportionally in each of the state's 14 dedicated regions
and be awarded from an existing pool of applicants for a Conditional Adult-Use Retail Dispensary
(CAURD) license, New York's social equity program.
The New York Cannabis Control Board, the state's chief regulator, has issued 66 provisional CAURD
licenses, though only four licensed recreational stores were operating as of early March.
The choppy rollout has been plagued by lawsuits, applicant and licensee funding challenges,
shortfalls from a state-funded property and lease assistance program for retailers as well as a thriving
illicit market.
New York City Mayor Eric Adams and prosecutors are going after landlords in an effort to curb
hundreds of illegal shops selling marijuana across Manhattan.
The Manhattan district attorney's office sent warning notices to more than 400 shops illegally
selling cannabis, DA Alvin Bragg reported. The notices warned property owners of potential evictions
if the unlicensed shops do not cease operations.
24 April 2023 | MJBizMagazine
https://www.nj.gov/cannabis/documents/meetings/2023-02-08/February%208%202023.pdf https://www.nj.gov/cannabis/documents/meetings/2023-02-08/February%208%202023.pdf https://mjbizdaily.com/new-jersey-shoppers-spend-1-9-million-on-first-day-of-adult-use-marijuana-sales/ https://qimw5q0w5j.execute-api.us-west-2.amazonaws.com/prod/sales.html https://cnycentral.com/news/local/new-york-state-to-double-amount-of-cannabis-retail-dispensary-licenses-in-cny https://cannabis.ny.gov/system/files/documents/2023/01/cannabis-control-board-press-release-1.25.2023.pdf https://mjbizdaily.com/2-more-adult-use-cannabis-operations-set-to-open-new-york/ https://mjbizdaily.com/new-marijuana-guidelines-prompt-new-york-retailers-applicants-to-adjust-business-plans-again/ https://mjbizdaily.com/new-york-200-million-marijuana-social-equity-fund-still-awaiting-capital/ https://apnews.com/article/marijuana-eric-adams-manhattan-new-york-city-business-53f7c8233d3ad8634dff23c0901c217e

MJBizMag April 2023

Table of Contents for the Digital Edition of MJBizMag April 2023

MJBizMag April 2023 - 1
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