The New Jersey Economic Development Authority (NJEDA) announced the launch of a new eligibility assessment tool that integrates the first phase of its Cannabis Equity Grant Program.

Funded by the state, the $10 million pilot program consists of 2 phases with the first phase being for the $250,000 Joint Venture Grant, the largest of its kind in the nation.

About The Program

Focused on supporting marijuana businesses and startups by ensuring that communities adversely impacted by the war on drugs have equitable access to the state’s legal cannabis industry, the program reserves 40% of Phase I funds for qualified social equity applicants characterized primarily as those with prior cannabis convictions or live in economically disadvantaged areas.

Additionally, "5% of total program funding is reserved for businesses located in impact zones, which are areas targeted based on previous levels of marijuana arrests, population, unemployment rates, and additional …

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