Our CEO Liesl Bernard recently authored an article for NJ Cannabis Insider, a cannabis-focused publication from NJ.com and The Star-Ledger. NJ Cannabis Insider strives to help cannabis entrepreneurs interested in the New Jersey market make smarter decisions and connect with others in the industry. Liesl’s article presents a forecast for the recently legal cannabis industry in New Jersey.
“The pace of growth in New Jersey will largely depend on how quickly legislators and regulators move and establish rules related to regulating and testing cannabis,” begins Liesl. “While this can be a potentially lengthy process, licenses and permits are starting to be granted in 2021 with hundreds of new companies staffing up and preparing for business. The potential for revenue and the creation of new cannabis jobs during pandemic times may also serve as a motivator to speed up the process.”
A few of Liesl’s predictions for New Jersey’s cannabis job market:
- An impending hiring boom: As the supply chain is built and the market expands, so will the number of employees needed to run each business. Liesl expects thousands of cannabis jobs to be created by the newly legalized market in New Jersey.
- Competitive demand will grow for qualified talent: In the earlier stages of legalization, New Jersey will see retail, manufacturing, cultivation, financial services and legal positions in high demand.
- A changing salary landscape: As new jobs are created and revenue increases, salaries should gradually follow the same trajectory. Demand for qualified, experienced talent will drive average compensation upward.
- A domino effect: As New Jersey’s cannabis revenue increases over time, it’s likely we will see a domino effect for legalizing adult-use cannabis across the East Coast.
“The legalization of adult-use cannabis in the state of New Jersey will create thousands of new jobs across the state in all verticals of the industry,” the article concludes. “Salaries can be expected to increase gradually as the industry expands and revenue increases, which in turn will have a hand in improving the economy and raising unemployment rates caused by the pandemic.”
To view the article by Liesl Bernard on NJ Cannabis Insider in its entirety, visit: https://njcannabisinsider.nj.com/.
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