NJ Marijuana Businesses Get $12M In ‘Equity’ Funding From State

ESSEX COUNTY, NJ — When New Jersey passed its landmark law that legalized recreational marijuana, part of the promise made to the public was that it would help correct the mistakes of the past – including decades of harm done to local communities during the “War on Drugs.” Now, another big step has been taken towards that goal, officials say.

On Tuesday, New Jersey officials revealed that 48 Garden State businesses have earned $12 million in grants under the Cannabis Equity Grant Program (see the full list below).

The announcement was made at Nightjar, a women-owned cannabis dispensary set to open at 549 Bloomfield Avenue in Bloomfield later this year.

Also known as the Joint Ventures Grant, the fund launched earlier this year with the goal of funneling $250,000 in capital to cannabis startup companies across New Jersey, helping them to overcome the financial burdens of transitioning from a conditional license with the state to an annual license.

The funds can be used for expenses such as rent/mortgages, payroll, compliance with regulations, legal expenses, employee training, utilities and supplies.

To make sure the communities most harmed by “racially-biased marijuana arrests” also reap these financial benefits, 40 percent of the Joint Ventures Grant funding was allocated for “social equity applicants.” An additional 5 percent was designated for businesses located in “impact zones,” which are defined by population, percentage of marijuana-related arrests and unemployment.

• See Related: NJ Marijuana Arrests Soar Amid Legalization Debate
• See Related: New Jersey Spends $1B Every Year Fighting The Drug War, Report Says

According to the New Jersey Economic Development Authority (NJEDA), the wave of funding announced Tuesday is an increase from the originally planned 24 awards, due to an additional allocation from the administration of Gov. Phil Murphy.

“As the cannabis industry continues to reach new heights in New Jersey, it is important that we build on our efforts to support the businesses seeking to enter and grow within this emerging market,” Murphy said.

“The Cannabis Equity Grant Program allows us to simultaneously expand the pool of cannabis businesses in our state while also focusing on those communities most impacted by the unethical War on Drugs,” Murphy added.

NJEDA Chief Executive Officer Tim Sullivan said the funding is an important milestone for the state’s growing cannabis industry.

“Greater investment in the cannabis industry ensures more entrepreneurs, residents and communities benefit – reversing historical injustices,” Sullivan said.

The announcement also got a thumbs-up from Dianna Houenou, chair of the New Jersey Cannabis Regulatory Commission.

“We look forward to even more targeted investment into social equity businesses and those owned by local minority, women and disabled veteran-owned businesses,” Houenou said.

Cannabis Joint Equity Program Awardees

1. J & J Flowers LLC

2. Mojo Botanica LLC
3. Brighterside Canopy LLC
4. Ginger Hale LLC
5. Hamilton Farms LLC
6. Urge NJ LLC
7. Sensory Dispensary LLC
8. THE CANNABIS CLUBHOUSE LLC
9. Premo Cannabis Company LLC
10. Vigor Dispensary LLC
11. Citi Roots LLC
12. Molly Ann Farms LLC
13. Cannaboutique by Greenhouse
14. Queen City Wellness LLC
15. A cultivation site located in Ocean County
16. Cloud Nine Dispensary LLC
17. Treehouse Ventures LLC
18. Canna P Farms LLC
19. Xena NJ LLC
20. NJ Greencare LLC
21. City Leaf Corp
22. Canna Remedies LLC
23. Kind Kush LLC
24. Green Leaf Pharma LLC
25. Green Knight Cannabis LLC
26. Ascension Cannabis Brands Co
27. Indigo Dispensary LLC
28. Brotherly Bud LLC
29. Hera Solutions LLC
30. Jersey Shore Ventures Group LLC
31. Nightjar Holdings LLC
32. Jersey Smooth LLC
33. Elevated by the CANNABOSSLADY
34. E.V. LLC
35. Highgrade Laboratories of New Jersey LLC
36. La Vida Gardens LLC
37. Yerrr Canna LLC
38. Puffin Store LLC
39. Seraph & Sons LLC
40. Hound Town 543 Inc.
41. Jersey Roots LLC
42. Sun Extractions Inc
43. Hamm & Chaz LLC
44. Golden Door Dispensary LLC
45. Stoke Industries
46. Lucky Buds LLC
47. Dispensary located in Hudson County
48. Dispensary located in Ocean County

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