Weed Money Getting Passed Around

On Saturday, the Palestinian Islamist militant group “Hamas” launched a full scale war onto Israel, launching between 2,500 to 5,000 rockets into Israel this weekend alone.

As of this morning, casualties have risen to 1,100, with 700 deaths being Israeli. This number is expected to rise as Israeli forces are expected to launch a massive operation into the Gaza strip today (the area where much of Hamas resides).

IN TODAYS NEWS:

• Expensive Weed: Where hundreds of thousands in the marijuana industry is going

• Middle Eastern Conflict: The war making its way to New Jersey

• Spooky Season: The only true jack’o;lantern experience in New Jersey

THE STATE OF MARIJUANA IN THE STATE OF NEW JERSEY

The New Jersey Economic Development Authority (NJEDA) has announced the allocation of $12 million in grant funding to 48 cannabis businesses, doubling the initially planned number of awards.

This funding initiative, supported by Governor Phil Murphy, aims to empower entrepreneurs, especially those from communities historically affected by the War on Drugs, to establish and expand their cannabis businesses in the state.

Each recipient will receive a $250,000 grant, marking one of the largest cannabis social equity grants in the nation.

Who does this really help?

The first phase of the Cannabis Equity Grant Program, known as the Joint Ventures Grant, was initiated earlier this year to assist recreational cannabis startups with the financial challenges of transitioning from conditional to annual licenses.

A significant portion of this funding (40%) was earmarked for qualifying social equity applicants, with an additional 5% designated for businesses in Impact Zones.

This program reflects the state's commitment to creating a fair and inclusive cannabis marketplace while addressing the historical injustices of the War on Drugs.

The future of the project

This announcement precedes Phase II's Seed Equity Grant, set to launch later in the year, which will exclusively benefit communities most adversely impacted by the War on Drugs.

All Phase II funding (100%) will be reserved for qualifying social equity applicants and will include technical assistance to help businesses succeed in the cannabis industry.

This assistance encompasses licensure process training, team-building, financial management, investor acquisition, and supply chain development, among other aspects.

The move underscores New Jersey's commitment to fostering greater equity, access, and participation in the burgeoning cannabis industry, ultimately addressing historical disparities and creating opportunities for marginalized communities.

Will this work?

In the short term, injecting less wealthy communities with capital to start and run their businesses will give these entrapeneurs an extremely strong advantage for now.

Yet as time passes, and businesses become reliant on their ability to produce cash, and the grant money runs out, then only the companies that capitalize on their present opportunity to ensure prosperity in the future will survive.

The marijuana industry, especially in New Jersey, is extremely competitive and will continue to be so. Witnessing the future of the industry develop now is a once in a lifetime experience.

✡️ NJ woman makes it out of Israel after being there during the start of the war

👩🏽‍💼 State supreme court determines school “intentionally failed” to address segregation in school

🏚 Home prices in every single county have gone up since last year

🏖 The real Jersey shore im trying to send my future kids

🏈 Eagles rise to 5-0, Jets make it to 2-3, Giants fall to 1-4

• A few things to keep your week exciting before the holiday season kicks off soon🎊

NORTH⬆️: The Jack’O’Lantern Experience in Augusta is an event that will have you jumping out of your socks. Witness over 6000 hand carved jack’o’lanterns in the crisp fall air and have food, drinks, and games there for you when you’re done with the pumpkins

CENTRAL🔄: The Madison Restaurant week is continuing until Wednesday this week. Come get a taste of Italy in Jersey with all of the special menus in this town near NYC this week.

SOUTH⬇️: The Wildwood 50, 60, and 70’s event starts this Friday! What better way to start your weekend than going to a disco in down the shore after getting a live performance from the Temptations

Have yourself a week, New Jersey!

In honor of world mental healthy day tomorrow, check in with yourself, and make sure things you have things under control before you look to control other things.

“Nothing diminishes anxiety faster than action.”

-Walter Anderson

Get to work.

-The Daily Bagel😚