A Progressive Turn: Cannabis Regulatory Commission Favors Social Equity Businesses
The Cannabis Regulatory Commission, the official body governing New Jersey’s thriving marijuana market, took a groundbreaking stride on Thursday. Their aim: to ensure a fair representation of businesses run by individuals from economically disadvantaged areas or those with a history of marijuana-related convictions.
License Priority: A One-Year Commitment
Starting from September 27, the commission has decided to prioritize ‘social equity applicants’ exclusively for certain licenses – including wholesaler, distributor, and delivery service class licenses. This strategic move, planned for one year, was set into motion during the commission’s meeting on Thursday.
A Push for Greater Inclusion
Charles Barker, a noted Commissioner, played a pivotal role in driving this initiative. Barker expressed concern over the lack of representation for social equity businesses, especially since the inauguration of the state’s recreational marijuana market in April 2022. In his own words, he expressed doubt that social equity businesses are “seeming to make it through the process to be considered for an award, let alone open up a business.”
Social Equity vs Diverse Ownership
The agency highlighted a key distinction between social equity applicants and diversely owned businesses, such as those owned by women, minorities, or disabled veterans. Notably, under the New Jersey marijuana legalization law, social equity and diverse applicants already enjoy priority. However, Barker stated that these businesses may not necessarily represent those most impacted by cannabis prohibition.
The Implications for Non-Social Equity Applicants
Following Thursday’s decision, non-social equity applicants will face rejection through September 27, 2024. This will not affect those seeking licenses for cultivation, manufacturing, or retail.
Final Thoughts
The shift towards prioritizing social equity in the cannabis industry underscores the commission’s commitment to rectify the impacts of the failed war on drugs. It is a bold step towards a more inclusive future in New Jersey’s cannabis market.
