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Njeda Cannabis Grant Launching This Fall
The New Jersey Economic Development Authority (NJEDA) is set to launch its Cannabis Business Development (CBD) Grant Program later this fall, with the official date yet to be announced. Commonly referred to as the NJEDA Cannabis Grant, this initiative is a major step toward leveling the playing field for small and independent cannabis businesses in New Jersey's rapidly expanding adult-use market.
What Is the NJEDA Cannabis Grant?The NJEDA Cannabis Grant is a $5 million pilot reimbursement program designed to help licensed cannabis operators cover critical business expenses. Eligible businesses can receive up to $75,000 in one-time funding, providing crucial financial support for operations, compliance, and growth. The grant aims to reduce the steep costs of entry and expansion that often keep local entrepreneurs from thriving in the cannabis industry.
Notably, 5% of total program funds are reserved for cannabis businesses located in Impact Zones communities that have been disproportionately affected by the enforcement of past cannabis laws.
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