This Tuesday, Illinois got listed as 11th state in the nation where marijuana is permitted legally for recreational needs. Note that, this major decision came soon after the failure of New Jersey and New York bill for billion-dollar recreational programs in the commercial sector.
Now, it is important to analyze the new business strategies in the cannabis industry and NJ marijuana dispensary. It will help you understand why most other countries failed to get marijuana legalization, and Illinois pass for it with ease.
The experts reveal that the cannabis industry these days are finding more potential for growth in the densely populated areas of Northeast United States.
At the same time, New Jersey and New York are trying hard to support the legalization of cannabis edibles for adult use as well. Below we have listed a few important factors related to the upcoming situations in the NJ marijuana industry:
Why New Jersey and New York failed?
If we look at the common scenario, Steve Sweeny and Gov. Phil Murphy at New Jersey struggled for marijuana bill signing with personal standpoint and for the tax rates.
On the other side, at New York, the prime focus was on who will control the tax allocation and tax revenues related issues for cannabis edibles in the area.
In simple terms, it failed to achieve success due to one single point, and that is taxes. Many experts also said that Gov. Andrew Cuomo was more concerned about adult use of marijuana; however, others said that he was more focused on the success of the climate bill.
What may happen next in New Jersey and New York?
The recent conversations at New Jersey are going on about ballot initiative to the legalization of adult-use cannabis edibles in the year 2020. Most of the people believe that this bill will pass with ease. However, some experts say that it is more important to talk about constitutional amendments instead of bringing a new law.
New York at present is not working towards citizen ballot initiative. But it is expected that legislation may need the majority of votes for the two successive sessions so that essential amendments can be made in the ballot.
How did Illinois succeed to pass the adult-use bill?
The biggest reason behind the success of the Illinois bill as per the legislators is the extensive support from people. They took consideration of all viewpoints and crafted final product by focusing on various interests in NJ marijuana dispensary. Jeremy Unruh, the director of the regulatory and public affair at Illinois, also said that such bills with delicate dynamics pass only when the stakeholders are empowered.
The expansion plans at NJ and NY:
Although the businesses related to adult-use marijuana are still disappointed; NJ medical marijuana market is on its peak these days. Governor recently made an announcement about the opening of new 108 NJ marijuana dispensary in the area with a higher number of processing and cultivation licenses. But on the other side, there are no such active and potential expansion plans in the New York market. The state health departments are making few efforts to build a strong support network for marijuana in the entire state.