New Jersey’s Cannabis Equity Grant Program opened for applications on 4/20/2023 at 9:00AM and closed in under two hours. Before 11AM the website had the following message posted in red “Based on significant interest in the Cannabis Equity – Joint Ventures Grant, the NJEDA has already received applications that are significantly in excess of the amount of funding available under this program at this time. As a result, the application for the Cannabis Equity – Joint Ventures Grant is now closed”
This $10 million program is intended to support new cannabis businesses by providing funding for startup and operational costs during their first three years. Eligible applicants are those who hold a conditional or annual recreational cannabis license in New Jersey after March 9, 2020, and have fewer than 50 employees.
Cannabis Grant Awards
The grant program offers two types of awards: Joint Ventures and Seed Equity. The Joint Ventures grant awards $250,000 grants, while the Seed Equity Grant awards $150,000 grants.
Job Opportunities
One of the benefits of government grant programs for specific industries is job creation. The cannabis industry is growing rapidly! There are many job opportunities available in marketing, retail, research and development, and cultivation. Check out our job openings page to find your next position.
Don’t Miss Out!
If you’re looking to start a cannabis business in your state, keep an eye out for future grant opportunities. Even if you missed out on the NJ program this time around, there may be other opportunities to receive funding and support for your business in the future. Get connected with your State’s regulatory departments to make sure you stay informed.
