The New Jersey Cannabis Regulatory Commission (NJ-CRC) has recommended the state’s Department of the Treasury fund the Cannabis Training Academy.
During its recent public session, the NJ-CRC approved the first 18 annual licenses for cannabis businesses.
Authorities noted the Cannabis Training Academy would be operated by the Department of State’s Business Action Center (NJBAC) as a means of providing technical assistance to entrepreneurs establishing cannabis businesses within the state.
“We have emphasized equity and accessibility in the application process, and this program will help ensure aspiring entrepreneurs have the optimal business know-how to give them the best chance for success in the cannabis space,” NJ-CRC Vice-chair Sam Delgado, who serves on the panel’s Audit Committee, said. “The Cannabis Training Academy will begin the needed training and guidance that will help individuals and assist the budding market’s stability and success.”
The NJ-CRC Audit Committee advocated the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization (CREAMM) Fund be used via the NJBAC to bring the Cannabis Training Academy to fruition, per authorities.
The training program’s proposed curriculum includes modules designed to help participants decide if a cannabis business is right for them and includes business plan development as well as a Legacy to Legal course.
The NJ-CRC noted that eight cannabis business license approvals were for direct to annual license applicants, while 10 were applications converting existing conditional licenses to annuals.
“This is a special milestone for the Commission and for New Jersey’s new legalized industry,” Commission Chairwoman Dianna Houenou said. “With the awarding of eight cultivation licenses and three manufacturing licenses, we are setting good groundwork for New Jersey’s cannabis market.”
The NJ-CRC also approved 297 conditional cannabis business licenses during its session.