New Jersey State gives medical marijuana dispensary $357,000 loan
Compassionate Care Foundation Inc. said it would use the money to buy equipment and expand its cultivation space, add 12 good-paying jobs to the seven it has already created, and eventually produce enough medicine for about 1,500 patients a month, said CEO Bill Thomas, formerly a medical researcher. Within 10 years, the dispensary expects to generate about $2.8 million in state sales tax, he added.
The 15-0 vote by the EDA — an independent authority connected to the Department of Treasury — “legitimizes this business in the eyes of the public,” Thomas said.
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