NJ Gives $350K to Pot Dispensary
Updated at 3:30 PM EDT on Friday, Oct 11, 2013
A yet-to-open medical marijuana dispensary has received approval from the New Jersey Economic Development Authority for a low-interest loan to expand.
Compassionate Care Foundation CEO Bill Thomas tells The Philadelphia Inquirer the loan shows the state recognizes it as "a legitimate business."
Thomas says the $357,000 loan will help the facility triple its cannabis production so it can serve 1,500 patients rather than the 500 it had planned to be able to provide the drug to when the Egg Harbor Township facility opens next month.
If all goes as expected, it will become the second legal alternative treatment center in the state.
One in Montclair opened last year. Four more are in development.
Published at 3:27 PM EDT on Oct 11, 2013
Copyright Associated Press