Cannabis Business Development Grant Program

About

The Cannabis Business Development Grant Program, organized by the New Jersey Economic Development Authority, offers a total of $5 million in funding to support recreational cannabis businesses in New Jersey, providing a one-time reimbursement of $75,000 to eligible manufacturers, growers, retailers, and testing labs, with a focus on aiding local small independent businesses and those located in economically impacted areas.

Benefits

• Provides a one-time reimbursement of $75,000
• Total funding of $5 million available
• Prioritizes support for local small independent businesses
• 5% of funds reserved for businesses in designated Impact Zones

Eligibility Criteria

• Must hold a valid and current annual license and digital card issued by the New Jersey Cannabis Regulatory Commission
• Eligible categories include Class 1 (Growers), Class 2 (Manufacturers), Class 5 (Retailers), and Testing Labs
• Must provide proof of at least $75,000 in compliance expenses
• Company must be based in New Jersey