STRATEGIES FOR CANNABIS INDUSTRY INVESTMENT

The Office of the Mayor of Trenton enlisted a team to help the city take advantage of New Jersey’s legalization of recreational cannabis in November 2020. The city’s goal was to understand the cannabis industry’s impacts on a majority-minority city facing economic adversity, and to assess its current infrastructure, social challenges, and economic opportunities for attracting cannabis companies. The team interviewed key stakeholders and conducted extensive research on best practices implemented by municipalities across America in which cannabis has been legalized. The team compiled a final report with recommendations for taking advantage of Trenton’s “impact zone” status—prioritizing community buy-in for welcoming cannabis companies, creating regulations that support both large and small businesses, investing revenue back into the community, and uplifting those disproportionately impacted by the nation’s war on drugs.