$2M Of Weed: NJ Sees More Than 12K Customers On First Day Of Sales

NEW JERSEY — The Green Rush has begun in New Jersey, and business is booming, state officials say.

On April 21 – the first day of cannabis sales to the general public in New Jersey – the state’s 12 participating dispensaries served 12,438 recreational customers, racking up total gross sales of nearly $1.9 million, according to the New Jersey Cannabis Regulatory Commission (NJCRC).

New Jersey voters approved recreational marijuana in November 2020. Now, adults 21 and over are allowed to consume cannabis on private property. Read More: 5 Things You Need To Know About Marijuana Legalization In NJ

But it wasn’t until last week that New Jersey residents – and those visiting from out of state – were permitted to buy weed without a medical marijuana card. Read More: Pot Sales Begin In NJ: Here's How Day One Went

There are currently 12 medical marijuana dispensaries that are cleared to sell cannabis to the general public. As a condition, they must prioritize their patients who hold medical cards and ensure they have enough cannabis to keep them supplied.

That hasn’t been a problem so far, state officials say.

“While lines have been steady at all the dispensaries, there has not been any substantiated reports of supply problems for medicinal cannabis patients,” the NJCRC stated Wednesday, adding that it continues to monitor the situation.

According to the commission:

“Sales of medicinal cannabis products have also been strong over the last 30 days with approximately 64,000 ounces of products dispensed to patients and their caregivers. On April 20 – the day before adult-use sales began – ATCs dispensed 5,400 ounces of medicinal cannabis and cannabis products across New Jersey. In the five days following the beginning of adult-use sales an additional 7,500 ounces were dispensed to patients.”

“We expected sales to be substantial and the data shows that the market is effectively serving both adult-use consumers and patients,” NJCRC executive director Jeff Brown said.

• See related article: New Jersey Marijuana Patients Need Lower Prices, More Weed
• See related article: Most Off-Duty Cops Can Smoke Weed In NJ, But Maybe Not For Long

It remains to be seen how much tax revenue the state will eventually see when sales begin on a wider basis. The state sales tax of 6.625 percent is applied to recreational marijuana purchases. Local municipalities are able to enact an additional sales tax up to 2 percent.

In 2017, Roseland-based law firm Brach Eichler estimated that if New Jersey embraced an "aggressive privatization" of the cannabis industry, it could bring up to $1 billion to the state within the first year of legalization. Read More: Legal Marijuana Could Bring New Jersey $1B In 1st Year, Law Firm Says

A 2019 report from the Office of Legislative Services estimated that New Jersey could generate revenues up to $126 million annually from a sales and use tax once a cannabis market is established. Some advocates have argued that the total could be even higher, setting their own estimates at roughly $300 million.

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