New Jersey’s Cannabis Market Set To Reach $1B Valuation With ‘Favorable Tax Framework’
In a detailed discussion with Benzinga, Susanna Short, an experienced cannabis consultant and upcoming Cannabis Market Spotlight speaker, shed light on the impressive growth of New Jersey’s cannabis market.
With the current number of dispensaries at approximately 130, expectations are that this figure could double or triple in the foreseeable future. This expansion indicates increasing consumer demand and burgeoning business opportunities throughout the state.
“The expansion we’re witnessing is indicative of a larger shift towards more widespread acceptance and normalization of cannabis in our communities,” Short explained. “It’s about meeting growing consumer demands while responsibly managing the scale of operations.”
Economic Impact of Cannabis Legalization
Short also discussed the substantial economic impact following cannabis legalization in New Jersey. The state’s unique, voter-approved tax structure is among the lowest for cannabis nationwide, spurring market competitiveness and projected to push the market’s valuation to one billion dollars this year.
“This favorable tax …