NJ’s wannabe pot purveyors watch dollars go up in smoke
Entrepreneurs banking on NJ Gov. Phil Murphy’s campaign promise to legalize marijuana in the Garden State are starting to feel burned. Shergoh Alkilani, a real estate developer based in Cliffside Park, said he’s invested roughly $1 million in a pot manufacturing facility in Bergen County — with nothing to show for it and no sense of when it might open, if ever.
HIGHLIGHTS
- NJ Governor, Phil Murphy, campaigned for Governors in 2017 on promises to legalize pot for recreational purposes; but, a vote on a bill to legalize the drug fell through.
- If recreational pot ever gets approved in NJ, experts estimate the adult-use cannabis business in the Garden State will grow to be a $3 billion to $4 billion enterprise.
- Opponents of recreational pot say there will be far bigger problems if the bill gets passed than a few business people who spent money on a potential pipe dream.
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