Acreage Holdings, a New York-based cannabis firm operating dispensaries as well as cultivation and processing operations in 11 states, has announced a partnership with Compassionate Care Foundation, a south Jersey medical cannabis dispensary, to break ground on a new cultivation facility. Over the past two months, the state has extended the list of qualifying conditions, cut fees for patients, and allowed existing dispensaries to apply to upsize their facilities. These expansions have paved the way for Compassionate Care to partner with Acreage in order to grow more product for the state’s increasing number of patients. “The potential to help people who are facing serious health issues, as well as create revenue opportunities for the state, is truly a ‘win-win’ and we are pleased to have this opportunity to grow our presence there.”
Compassionate Care Foundation signed a letter of intent to enter into a management contract with Acreage. Together, the two companies have selected a 100,000 square-foot building in Sewell, which they intend to develop into a mammoth cultivation facility.
Even a few years ago, the idea of either John Boehner or New Jersey being on board with legal weed seemed unlikely. A decade ago, Boehner was “Unalterably opposed” to legalization, and worked to strike down any legislative attempts at cannabis reform during his terms as Speaker of the House.
New Jersey itself is currently making a similar transition towards legal cannabis. For the past eight years, the Garden State was under the sway of former Governor Chris Christie, one of the country’s most vociferous opponents of cannabis reform. The governor is still facing resistance from local politicians, but recent polls have found that 59% of the state’s voters are in favor of legal pot.