Growth, Equity, and Impact: NJ-CRC 2024 Year in Review
The New Jersey Cannabis Regulatory Commission is proud to reflect on 2024 - a year marked by growth, equity and impact. We expanded our public outreach and increased access to information about safe cannabis use. We took significant steps to ensure the state’s cannabis market remains equitable, transparent, and thriving.
The Market
As of November 2025, there are 338 cannabis business licenses and permits currently in operation: 251 for adult-use (including expanded Alternative Treatment Centers) and 87 for medicinal purposes. In the first three quarters of 2024, the medicinal cannabis market generated $66,927,020, while the recreational market generated $722,921,233 during the same period. The overall industry generated $43,290,543 in tax revenue and collected $2,248,270 in Social Equity Excise Fees.
Medicinal Cannabis Program
In 2024, the NJ-CRC registered 24,646 new patients, with anxiety being the most common qualifying condition, accounting for 39% of all patients. During this period, the program issued 33,786 physical cards and 1,467 digital cards, which became available in June 2024. Digital cards are free, while physical cards now cost $10.
Clinical registrant licenses allow organizations to collaborate with academic institutions in researching the medicinal benefits of cannabis. These partnerships are aimed at promoting scientific studies that can enhance patient treatment protocols. Clinical Registrants will be able to grow, manufacture, and dispense medicinal cannabis and medicinal cannabis products to qualifying patients and designated institutional caregivers. The regulations for clinical registrant licenses have been established, and the next step is for the Board to approve the Notice of Applications.
Commitment to Equity
Premo Keyport Cannabis Dispensary - Black-Owned
We continue to exceed all statutory benchmarks for a diverse and inclusive marketplace. As of October, 47% of annual license awardees are majority minority-owned businesses, and 44% are majority woman-owned or majority disabled veteran-owned. Additionally, 16% of awards went to social equity businesses. We approved 620 licenses for Hispanic or Latino business owners. While just 10% of state businesses are Black-owned, 17% of licenses went to Black-owned entities. Similarly, 13% of licenses were awarded to Asian-owned businesses despite them also comprising only 10% of state businesses.
Consumption AreaS
In the final meeting of 2024, the Commission approved the Notice of Application Acceptance (NOAA) for consumption areas. Applications opened on January 2, 2025, for retail businesses designated as Social Equity – this includes owners with cannabis-related convictions or those who have lived in Economically Disadvantaged Areas.
On April 2, 2025, all other microbusinesses and Diversely-Owned dispensaries can start applying. Diversely-Owned means businesses that are minority-owned, woman-owned, or disabled veteran-owned and certified by the New Jersey Department of Treasury. On July 2, 2025, all other Class 5 retail operators can submit their applications.