N.J.’s cannabis industry is set to take off. Who can play? What do employers need to know?
Marijuana IndustryMarijuana Industry NewsNew JerseyRecreational Marijuana December 29, 2020 MJ Shareholders 0
New Jersey Gov. Phil Murphy is expected to sign two bills before New Year’s Day that will give birth to a new recreational marijuana industry in the Garden State and decriminalize the possession of up to six ounces of cannabis.
The bills, which received strong bipartisan support in the state Assembly and Senate, will initially create 37 licenses for firms that can both grow weed and sell it.
Somehow, those licensees will have to produce enough marijuana to satisfy existing medical marijuana patients and an adult-use marketplace that some industry analysts believe could grow to be worth $2 billion annually.
Bill Caruso, 46, is a lawyer and lobbyist who heads the cannabis practice at Archer Law of Haddonfield. Caruso has been involved with the legalization effort in the Garden State since the beginning of his law career.
The Inquirer spoke with Caruso about how he sees the industry evolving in the New Year, what opportunities will be available for aspiring cannabis entrepreneurs, and what employers should know about marijuana’s potential impact on the workplace.
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