>>> FUNDING FOR "NJ BUSINESS BEAT" PROVIDED BY NEW JERSEY CHAMBER OF COMMERCE, WORKING TO KEEP NEW JERSEY IN BUSINESS.

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AND BUSINESS CONSULTING SERVICES FIRM.

WE HAVE BEEN HELPING GOVERNMENTS AND PRIVATE SECTOR CLIENTS IN NEW JERSEY WITH THEIR EVOLVING TECHNOLOGY NEEDS FOR 30 YEARS.

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>>> THIS WEEK ON "NJ BUSINESS BEAT," THE FUTURE OF GREEN.

WE SIT DOWN WITH THE NEW HEAD OF NEW JERSEY'S GREEN ECONOMY COUNCIL TO LEARN HOW THE STATE'S ENVIRONMENTAL IMAGE WILL SPUR ECONOMIC GROWTH.

PLUS, INCLUDING EVERYONE IN NEW JERSEY'S REBOUND.

WHY LAWMAKERS SAY THERE WILL BE NO ECONOMIC COME BACK WITHOUT SUPPORT FOR MINORITY OWNED BUSINESSES.

AND, A DIFFERENT TYPE OF GREEN ECONOMY, WE'RE PUTTING MARIJUANA IN FOCUS.

HOW QUICKLY NEW JERSEY'S BUDDING INDUSTRY WILL RAKE IN REVENUE AND WHAT YOU CAN EXPECT IF YOU WANT TO PURSUE A CANNABIS CAREER.

THAT'S STRAIGHT AHEAD ON "NG BUSINESS BEAT."

>> THIS IS "NG BUSINESS BEAT."

>> HELLO.

THANKS FOR JOINING US ON "NG BUSINESS BEAT."

IF YOU'RE WATCHING ON YOUTUBE MAKE SURE YOU SUBSCRIBE TO OUR NG SPOTLIGHT NEWS CHANNEL TO GET ALERTED WHEN WE POST NEW EPISODES AND CLIPS.

WE BEGIN THIS WEEK WITH A LOOK AT HOW SOLAR AND WIND ENERGY WILL HELP POWER JOB GROWTH IN NEW JERSEY.

GOVERNOR PHIL MURPHY IS COMMITTED TO CLEAN ENERGY NOT ONLY BECAUSE IT'S GOOD FOR THE ENVIRONMENT BUT ALSO BECAUSE HE SEES IT AS A DRIVER OF ECONOMIC GROWTH.

RECENTLY THE GOVERNOR CREATED THE OFFICE OF CLIMATE ACTION AND A GREEN ECONOMY AND SET UP A COUNCIL THAT IS TASKED WITH CHARTING A PATH TO ENVIRONMENTALLY-FRIENDLY ECONOMIC DEVELOPMENT.

I TALKED WITH JANE COHEN WHO IS LEADING THE EFFORT TO RETHINK NEW JERSEY'S ECONOMY AND ITS WORKFORCE.

JANE, YOU STATED THAT CLIMATE CHANGE CREATES BOTH CHALLENGES AND OPPORTUNITIES FOR NEW JERSEY.

TELL ME ABOUT SOME OF THE OPPORTUNITIES AND WHAT THE COUNCIL WILL DO TO FACILITATE CHANGE.

>> YEAH.

THANKS FOR THE QUESTION.

SO JUST TAKING A QUICKSTEP BACK, SINCE DAY ONE THE GOVERNOR HAS MADE IT VERY CLEAR THAT HE SEES A CLEAN ENERGY AGENDA AS A VERY IMPORTANT PIECE OF TWO OF HIS BIGGEST PRIORITIES WHICH ARE ECONOMIC DEVELOPMENT, AND EQUITY.

AND THE COUNCIL IS A VERY INTENTIONAL WAY TO REALLY ADDRESS BOTH OF THESE ISSUES AS IT TRANSITIONS TO THE GREEN ECONOMY.

>> SO, HOW DO YOU ENSURE THAT THIS ECONOMIC DEVELOPMENT IS SPREAD THROUGHOUT THE STATE.

YOU MENTIONED WIND FARMS, WIND DEVELOPMENT, WE KNOW THAT'S IN SOUTH JERSEY BUT HOW WILL YOU MAKE SURE HARD-HIT AREAS OF THE STATE OF ALSO BENEFIT?

>> ABSOLUTELY.

AND THAT'S ONE OF THE BIGGEST PRIORITIES WITH THIS COUNCIL AND WHAT WE'RE TRYING TO ACHIEVE THROUGH THE CLEAN ENERGY AGENDA.

WE WANT TO MAKE SURE THAT EVERYONE IN THE STATE, NO MATTER WHAT THEIR ZIP CODE IS, WHAT THEIR INCOME IS, HAS THE OPPORTUNITY TO BOTH TAKE ADVANTAGE OF THE CLEAN ENERGY ECONOMY AND WHERE THEY WANT TO PARTICIPATE IN CLEAN ENERGY ECONOMY.

SO, YES, THE WIND FARMS ARE IN SOUTH JERSEY BUT THERE IS SOLAR ALL ACROSS THE STATE.

THERE'S ENERGY EFFICIENCY ACROSS THE STATE AND WE WANT TO MAKE SURE THAT FOR EXAMPLE WHERE THERE IS COMMUNITY SOLAR, THAT THOSE JOBS THAT WILL BE CREATED ARE AVAILABLE TO FOLKS WHO ARE LIVING IN COMMUNITIES THAT ARE TAKING ADVANTAGE OF COMMUNITY SOLAR.

>> WHAT ARE SOME OF THE HURDLES, THOUGH, WHEN IT COMES TO WORKFORCE TRAINING?

WHAT ARE SOME OF THE OBSTACLES YOU MIGHT FACE AND OBVIOUSLY THERE'S SUCH A GREAT NEED NOW TO GET PEOPLE RETRAINED WHO LOST THEIR JOBS DUE TO THE PANDEMIC.

>> SURE.

WORKFORCE TRAINING IS REALLY THE KEY HERE IN UNDERSTANDING WHAT KIND OF TRAINING THERE NEEDS TO BE TO MEET THE JOB DEMANDS OF TOMORROW AND THAT IS WHAT WE'RE DOING WITH THIS COUNCIL.

FOR FOLKS WHO HAVE LOST THEIR JOBS FOR WHATEVER REASON, BECAUSE OF THE PANDEMIC, OR WHO WILL BE TRANSITIONING FROM TRADITIONAL ENERGY JOBS INTO CLEAN ENERGY JOBS, FOR FOLKS WHO HAVE BEEN TRADITIONALLY UNDER EMPLOYED IN ENERGY SECTOR, WE'RE REALLY WORKING ON WHAT KINDS OF TRAINING WE NEED TO ENSURE THAT ALL OF THOSE FOLKS WILL HAVE OPPORTUNITIES IN CLEAN ENERGY ECONOMY.

>> SO, I KNOW THEY ARE JUST GETTING STARTED BUT GIVE US A SENSE OF THE TIMELINE.

WHEN WILL WE START HEARING RECOMMENDATIONS OR SEE POSSIBILITIES IN TERMS OF ECONOMIC DEVELOPMENT AND SOME OF THIS WORKPLACE TRAINING?

>> WE HAVE ONE YEAR.

NOT A LOT OF TIME TO PUT TOGETHER A VERY ROBUST AND ACTIONABLE PLAN.

WE HAVE TO PRESENT THAT PLAN AND WE, IN MY PERSONAL OBJECTIVE IS THAT THIS IS NOT AN ACADEMIC EXERCISE.

THIS IS REALLY A ROAD MAP THAT WE CAN USE TO CHART OUR FUTURE AND OUR EQUITABLE FUTURE AND WE'LL USE THESE RECOMMENDATIONS TO INFORM THE WORK OF OUR STATE AGENCIES AS WE MOVE THIS IMPORTANT WORK FORWARD.

>> JANE, THANKS FOR SHARING SOME OF THIS INSIGHT WITH US.

WE'RE GOING TO BE TRACKING THE JOURNEY VERY CLOSELY SO WE APPRECIATE YOUR TIME.

THANK YOU.

>> THANK YOU.

>> ONE STATE SENATOR WANTS TO MAKE SURE NEW JERSEY'S MINORITY OWNED BUSINESSES AREN'T LEFT BEHIND AS THE STATE'S ECONOMIC RECOVERY STARTS TO TAKE HOLD.

SENATOR TROY SINGLETON SAYS THE STRUGGLES OF BLACK OWNED BUSINESSES HAVE BEEN WORST THAN OTHERS AND HE'S GOT A PLAN TO HELP.

>> SENATOR, YOU HAVE RAISED SOME CONCERNS ABOUT THE FACT THAT AS NEW JERSEY BEGINS TO RECOVER FROM THE PANDEMIC, THE ECONOMY NEEDS INCLUSIVITY.

WHY ARE YOU CONCERNED MINORITY OWNED BUSINESSES WON'T BE ABLE TO MOVE AT THE SAME PACE AS OTHER BUSINESSES?

>> WELL, I THINK THE COVID PANDEMIC EXACERBATED SOMETHING THAT I THINK SO MANY OF US KNOW ALREADY THAT MANY MINORITY BUSINESSES HAVE NOT BEEN ABLE TO GAIN THE SAME TRACTION NOT JUST IN NEW JERSEY BUT ACROSS THE COUNTRY AS FAR AS FULFILLING THEIR GROWTH AND THE INITIATIVES WE TRY TO PUT FORTH ARE DESIGNED TO STRENGTHEN THAT BUSINESS NETWORK THAT'S SOVY ALL THE TO OUR STATE'S ECONOMY BUT MAKE SURE THAT EVERYONE TAKES ADVANTAGE OF THE ECONOMIC GROWTH, THAT WE PROJECT WILL HAPPEN IN OUR STATE.

>> YOU HAVE A COUPLE OF IDEAS OUT THERE THROUGH LEGISLATION IN TERMS OF SUPPORTING MINORITY OWNED BUSINESSES INCLUDING FINANCING AND OTHER RESOURCES.

WHICH OF THOSE BILLS DO WE NEED IN PLACE RIGHT NOW?

>> WELL, RIGHT NOW I THINK IT'S CRITICALLY IMPORTANT FOR MINORITY BUSINESSES TO COME TO FRUITION.

IN FACT IT'S SOMETHING GOVERNOR MURPHY'S ADMINISTRATION HAS STARTED TO LOOK AT AND DO SOME WORK ON THROUGH THE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY TO TRY TO BOLSTER THE SUPPORT NETWORK THAT SURROUNDS OUR THE MINORITY BUSINESSES AND ALLOWS THEM TO HAVE THE SORT OF FOUNDATIONAL SUPPORT THAT ALLOWS THEM TO GROW.

SO THAT FUND IS A $50 MILLION FUND TO BE DERIVED FROM FEDERAL FUNDS, FROM THE C.A.R.E.S.

ACT.

TO ALLOW THEM TO FLOURISH HERE IN NEW JERSEY.

>> SENATOR, I CONTINUOUSLY HEAR FROM PEOPLE I TALK WITH ABOUT THE PROBLEM OF CAPITAL FOR MINORITY OWNED BUSINESSES, ACCESS TO CAPITAL IS AN ONGOING ISSUE.

WHAT ELSE CAN YOU DO TO HELP ON THAT FRONT TO REALLY ENABLE BUSINESSES TO SUSTAIN AND THRIVE AND GROW?

>> WELL ONE OF THE THINGS WE CAN DO IS REDUCE SOME OF THE BARRIERS THAT MAYBE LENDING ORGANIZATIONS HAVE AS FAR AS TRYING, ESPECIALLY MINORITY DEPOSITORY INSTITUTIONS WHICH ARE MANY OF THOSE SMALLER BANKS AND LENDING INSTITUTIONS THAT PRIMARILY LEND TO MINORITY BUSINESSES.

WE NEED TO MAKE SURE WE'RE NOT PUTTING ARTIFICIAL BARRIERS IN FRONT OF THEM ESPECIALLY IF THEY ENGAGING NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY PROGRAMS TO ALLOW THEM TO BE ABLE TO LEND THE CAPITAL THAT'S NECESSARY TO SEE THESE BUSINESSES FLOURISH AND I THINK IF WE DO THAT.

IF WE'RE AGGRESSIVE AND INTENTIONAL ABOUT REMOVING THOSE BARRIERS WE'LL SEE THOSE COMMUNITIES, BANKS AND THOSE BUSINESSES FLOURISH TOGETHER AND, AGAIN, HELP THE VIBRANCY OF OUR NEW JERSEY ECONOMY.

>> SENATOR SINGLETON, GOOD FOR YOU.

GOOD TO TALK TO YOU.

THANK YOU FOR YOUR TIME.

>> THANK YOU.

>> THIS PAST YEAR THERE'S BEEN A LOT OF CONVERSATION IN COMPANIES ACROSS THIS COUNTRY ABOUT INEQUALITY AS THE PANDEMIC BROUGHT LONG FESTERING ISSUES TO LIGHT.

WHAT'S THE ROLE OF CEOs TO CHANGE ECONOMIC AND RACIAL INEQUALITY?

THAT WAS THE SUBJECT OF AN EVENT HELD THIS WEEK HOSTED BY THE CONFERENCE BOARD, A NATIONAL THINK TANK FOR BUSINESSES.

THE CONFERENCE BOARD LAURIE MURRAY EXPLAINS HOW CORPORATE AMERICA IS TRYING TO CHANGE THE WAY IT DOES BUSINESS.

>>> LAURIE, THE CONFERENCE BOARD HELD A CONFERENCE THAT REALLY ASKS BUSINESSES TO TALK ABOUT THEIR APPROACHES TO ECONOMIC, EQUALITY AND RACIAL EQUALITY.

FIRST OF ALL, WHY IS THIS AN ISSUE THAT BUSINESSES ARE NOW REALLY STARTING TO TACKLE?

>> SO, IT HAS BEEN AN IMPORTANT ISSUE, DIVERSITY INCLUSION HAS BEEN AN IMPORTANT ISSUE AMONG COMPANIES WITHIN BUSINESS FOR YEARS.

BUT, WITH THE KILLING OF GEORGE FLOYD AND THE TRAGEDIES THAT FOLLOWED, THE ECONOMIC CRISIS THAT HAS RESULTS FROM COVID-19, AND THE SPOTLIGHT THAT COVID-19 HAS SHOWN ON THE DISPARITIES OF THE IMPACT OF BOTH THE ECONOMIC HARDSHIP, AS WELL AS THE HEALTH DISPARITIES IN TERMS OF LOW-INCOME AND COMMUNITIES THAT HAVE BEEN UNDERSERVED HAS REALLY RAISED THE IMPORTANCE OF THIS ISSUE REALLY TO THIS LEVEL.

WE'RE SEEING IT ACROSS THE BOARD THAT ITS ACTIONS WITHIN THEIR COMPANIES TO DEAL WITH DIVERSITY AND INCLUSION, BOTH ON THE BOARD LEVEL, AND ON THE LEADERSHIP LEVEL, AMONG MANAGEMENT LEADERSHIP AND THEN TO HAVE OPEN AND HONEST DISCUSSIONS AMONG THEIR EMPLOYEES ON THESE ISSUES AND HOW TO IMPROVE THE CULTURE WITHIN COMPANIES AS WELL AS THEIR ROLE IN BROADER COMMUNITY.

1 MILLION AND TEN YEAR INITIATIVE THAT WAS LAUNCHED AS WELL AS ONE OF OUR TRUSTEES KEN FRAZIER WHERE THE COMPANIES ARE COMMITTED TO HIRING 1 MILLION BLACK EMPLOYEES OFTEN YEARS AND ALSO COMMITTING TO ACTUALLY TRAIN THEM AS WELL.

>> ARE THESE ACTIONS THE RIGHT THING TO DO BECAUSE IT'S THE RIGHT THING TO DO OR BECAUSE IT'S GOOD FOR BUSINESS?

>> IT'S INTERESTING BECAUSE DAN OF PAYPAL SAID IT MOST CLEARLY, PROFIT AND PURPOSE ARE NOT AT ODDS.

THE POINT IS THAT IN ORDER TO SUCCEED AND COMPETE AS A BUSINESS, THE DATA IS OBVIOUS.

CEOs KNOW IT.

THEY SEE IT FIRSTHAND THAT DIVERSITY, INCLUSION.

DIVERSITY MEANING A DIVERSE SET OF THOUGHTS, INVOLVEMENT AND IF IT HELPS INNOVATION AND INCLUSIVENESS, EMPLOYEES THAT FEEL THEY BELONG, FEEL COMFORTABLE IN THEIR WORK SPACE WHICH IS A SIGNIFICANT PORTION OF THEIR LIFE, FEEL THAT THEIR COMPANY HAS, THAT THEY ARE WORKING FOR A COMPANY THAT HAS A PURPOSE, ACTUALLY HELPS INNOVATION, HELPS PRODUCTIVITY AND IT HELPS ALSO TO IMPROVE THE VOICE AS WELL.

>> THANK YOU FOR YOUR TIME.

>> THANK YOU.

>>> THERE'S SOME CONTROVERSY SURROUNDING GOVERNOR MURPHY'S CANNABIS INITIATIVE.

THE NAACP RAISED OBJECTIONS TO THE COMMISSION'S MAKEUP BECAUSE IT DOESN'T INCLUDE A BLACK MAN.

THIS IS ON THE ROAD OF SETTING UP NEW JERSEY'S MARIJUANA.

THIS NEW CANNABIS COMMISSION STILL HAS TO FIGURE OUT THE RULES AND REGULATIONS FOR CREATING A MARKETPLACE WHICH COULD TAKE ABOUT A YEAR.

SO THAT MEANS NEW JERSEY'S RECREATIONAL CANNABIS MARKETPLACE IS EXPECTED TO BE UP AND RUNNING IN 2022.

AND THERE IS A LOT OF MONEY TO BE MADE THE FROM WEED.

I TALKED WITH A PROFESSOR HOW MUCH GREEN THE STATE CAN EARN FROM THE GREEN PLANT.

PROFESSOR, YOU'VE DONE SOME NUMBER CRUNCHING AROUND THE POTENTIAL FOR LEGALIZED MARIJUANA INDUSTRY IN NEW JERSEY.

WHAT IT MEANS IN TERMS OF REVENUE.

WHAT HAS YOUR RESEARCH SHOWN?

>> BASICALLY WHAT WE DID IS WE TOOK THE DATA AND WE SPLIT IT INTO THREE MAJOR CATEGORIES.

WE LOOKED AT AN EXCISE PACKAGE AND MONEY COLLECTED WITH RESPECT TO APPLICATIONS, AND THE LICENSING.

SO WITH RESPECT TO SALES TAXES WITHIN THE STATE OF NEW JERSEY THE MODEL HAS THREE DIFFERENT PARTS.

THE FIRST PART LOOKS AT A RATE OF 10%, 12% AND 15%.

AND AT THE HIGHEST MARGIN WE ESTIMATED THAT THE STATE WOULD COLLECT $107 MILLION.

THIS IS AT FULL SATURATION POINT.

THE FIRST YEAR WOULD PROBABLY TAKE SOME TIME TO GET IT RAMPED UP.

BUT AT FULL SATURATION, 15%.

EXCISE RATES AT COMFORTABLE RATES, 10, 15 AT THE HIGHEST RATE WE ESTIMATED ABOUT 58 MILLION A YEAR.

IN TERMS OF LICENSING AND APPLICATION FEES ROUGHLY HALF A MILLION DOLLARS A YEAR.

>> ARE THOSE NUMBERS FOR ANNUAL RESULTS SO EVERY YEAR WE WOULD SEE THAT KIND OF REVENUE?

>> RIGHT.

BUT I WOULD EXPECT SOME VARIATION OVER TIME BECAUSE AS YOU KNOW NEW YORK AND DELAWARE ALSO HAVE PAVED THE WAY FOR DECRIMINALIZATION AND LEGALIZATION OF RECREATIONAL MARIJUANA IN THEIR STATE.

ONCE THOSE STATES COME ONLINE IT WILL CHANGE THINGS HERE.

AFTER THOSE STATES LEGALIZE I SUSPECT NEW JERSEY WILL SEE A GREAT DIFFERENCE IN THESE NUMBERS RIGHT HERE.

SO WHILE THOSE STATES HAVE NOT LEGALIZED, THESE NUMBERS WILL BE HIGHER THAN THEY ARE.

>> SO, I MEAN WHEN YOU LOOK AT THE OVERALL TRAJECTORY THE FOR LEGALIZED MARIJUANA AND THE MONEY TO BE MADE FROM IT, HOW DO WE FARE COMPARED TO OTHER STATES AND PERHAPS ARE WE LOOKING AT ESTIMATES ELSEWHERE THAT ARE TOO OPTIMISTIC GIVEN THE INCOMING COMPETITION?

>> NO.

THIS IS A VERY, VERY LUCRATIVE MARKET.

AND I HAVE SEEN SOME NUMBERS THAT ARE UP THERE, MORE THAN MY NUMBERS.

I'VE SEEN NUMBERS THAT ARE HIGHER.

THE THERE'S A LOT OF MONEY TO BE MADE IN THIS MARKET.

AND THE FACT OF THE MATTER IS PEOPLE ARE USING IT.

SO, NO.

I THINK THAT THE STATE WILL FARE VERY WELL EVEN ONCE NEW YORK, IF THEY ACTUALLY DO PASS A LAW AND IF NEW YORK, DELAWARE AND PENNSYLVANIA PASS THESE LAWS, NEW JERSEY IS STILL GOING TO COLLECT A LOT OF MONEY FROM THE SALE OF RECREATIONAL MARIJUANA.

>> HOW DOES THE STATE AVOID ANY MISSTEPS, IN YOUR VIEW, AS IT TRIES TO SET UP REGULATIONS AND STRUCTURE FOR THIS INDUSTRY TO THRIVE?

OBVIOUSLY THE STATE WANTS TO MAKE SURE IT SEES THE MOST BENEFITS FROM IT.

>> RIGHT.

WELL 33, 34 STATES HAVE ALREADY, YOU KNOW, FAEFD WAY FOR IT.

SO THERE'S A LOT OF EXAMPLES FOR US TO FOLLOW.

YOU'RE MAKING A VERY VALID POINT.

STATES USE THESE MONIES FOR A VARIETY OF REASONS EVEN IN CREATING THE PHYSICAL INFRASTRUCTURE TO REGULATE THE INDUSTRY.

THERE'S LOTS AND LOTS OF EVIDENCE, COLORADO, CALIFORNIA, THEY HAVE VERY WELL ESTABLISHED MARIJUANA PROGRAMS.

SO THERE'S NO REASON FOR US TO HAVE MISSTEPS.

POLITICS, UNFORTUNATELY, STEPS IN ALONG THE WAY.

THAT'S THE BIGGEST PROBLEM.

REFW REGULATING THE INDUSTRY THERE'S A LOT OF GOOD MODELS TO FOLLOW.

>> PROFESSOR THANK YOU SO MUCH FOR YOUR INSIGHT AND FOR PULLING SOME NUMBERS OUT FOR US.

APPRECIATE IT.

>> THANK YOU FOR HAVING ME.

>> CANNABIS COMPANIES ARE GETTING READY TO CASH IN ON THE NEW JERSEY MARKET.

WE SPOKE WITH ONE YOUNG ENTREPRENEUR WHO BELIEVES HIS JERSEY ROOTS AND ATTITUDE WILL HELP HIM WIN OVER CLIENTS.

THE CEO OF THE ORANGE BASED COMPANY ROLL THEM UP.

GREAT TO TALK TO YOU AND FIND OUT WHAT'S AHEAD FOR YOUR COMPANY.

FIRST OF ALL, HOW ARE YOU PREPARING FOR LEGAL MARIJUANA IN NEW JERSEY?

>> WELL, FIRST AND FOREMOST A LOT OF PEOPLE THINK THAT PROCESS STARTED WHEN PHIL MURPHY ANNOUNCED THE INNOVATION OF IT LAST WEEK BUT THIS PROCESS HAS BEEN GOING ON FOR THE LAST FOUR OR FIVE YEARS NOW.

SO TO PREPARE FOR THIS, IT STARTED OFF WITH MY COLLEGE YEARS.

I WENT TO COLLEGE OVER ON THE WEST COAST AT BOISE STATE, UNIVERSITY.

IDAHO IS NOT A RECREATIONAL OR MEDICAL MARIJUANA STATE.

BUT THE BORDER STATES WERE ALL GOING INTO THE RECREATIONAL MARKET AND AT THE SAME TIME NEW JERSEY HAD PASSED THE LAW WHICH ALLOWED FOR MEDICAL MARIAN TO COME IN TO THE STATE WITH THE ISSUE WE HAVE HERE.

SO JUST NOTICING THAT TRAJECTORY, AND I TOOK A BIG LEAP OF FAITH AND I BELIEVE WE'LL BECOME ONE OF THOSE REC STATES SOON SO I DECIDED TO GET ON A PATH OF TRYING TO UNDERSTAND THE CANNABIS INDUSTRY, I'VE BEEN TRYING TO BUILD THE COMPANY.

AT FIRST, WHAT DO I FEEL THE INDUSTRY NEED AND HOW COULD I FEEL THAT NICHE.

>> SO YOU SELL SOME CBD PRODUCTS.

HOW DO YOU PLAN TO TRANSITION OVER.

TELL US A LITTLE BIT ABOUT YOUR GAME PLAN.

>> CONTINUE WITH OUR STRONG BRANDING NOW.

AND LIKE EXPANDING ON OUR MARKETING IDEAS.

EXPANDING ON THE PEOPLE WE'RE TRYING TO TOUCH, LIKE YOU.

THIS CAN BE SOMETHING THAT WORKS FOR YOU AS WELL.

SO THIS MORE SO SPENDABLE OF WHAT WE ALREADY HAVE GOING ON, TAKE GENUINE TO WHO WE ARE, STAYING GENUINE TO OUR CUSTOMER BASE AND BE ABLE TO MOVE FORWARD.

>> IF YOU'RE TRYING TO SELL ME IN MIDDLE OF THE INTERVIEW I'LL GIVE YOU THAT.

WHAT WILL SET YOU GUYS APART FROM THE OTHER COMPETITORS?

>> OUR TECHNOLOGY, OUR CUSTOMER SERVICE, THE WAY WE PRESENT PRODUCTS.

THE WAY WE ARE AS LEADERS OF OUR COMPANY, OUR POLITICAL TIES.

THERE'S SO MANY DIFFERENT THINGS THAT WE'VE BEEN WORKING ON IN THE LAST FOUR YEARS TO GET US OVER THE HUMP, TO GET OUR WAY BACK SO THAT WE CAN COMPETE.

I WON'T SAY THAT WE'LL TAKE OVER THE LANDSCAPE AND DOMINATE IT LIKE EVERYONE ELSE WILL TRY TO GO ON GOING CRAZY.

BUT WE'RE HERE.

WE'RE ALL FORMER COLLEGE ATHLETES AND JUST READY TO COMPETE.

>> YOU GOT SOME ATTENTION BY THE FACT THAT YOU'RE A MINORITY OWNED CANNABIS COMPANY.

HOW IMPORTANT IS IT THAT THERE IS MINORITY REPRESENTATION IN AN INDUSTRY THAT WILL GROW LIKE THIS IN NEW JERSEY?

>> WILL FIRST AND FOREMOST WE ALL UNDERSTAND THE RATE OF INCARCERATION DUE TO THE DRUG WE'RE NOW TALKING ABOUT.

SO HAVING REPRESENTATION THERE, LITERALLY IS ESSENTIAL.

SHOWING LITTLE KIND YOU DON'T HAVE TO GO OUT THERE AND DO AT ANY TIME THE WRONG WAY.

YOU DON'T HAVE TO PLAY BASKETBALL.

YOU CAN HAVE A BUSINESS.

WE'VE BEEN HOLDING SO MANY DIFFERENT EDUCATIONAL SEMINARS.

THERE'S SO MUCH ABOUT THIS PLANT THAT PEOPLE OF MY DEMOGRAPHIC HAVEN'T BEEN EXPOSED TO.

LIKE THEY ONLY KNOW, YOU KNOW, WHAT'S IN THEIR FACE.

SO TO BE A YOUNG BLACK BUSINESS AT THAT, SITTING HERE, MAKING HEADWAY IS SOMETHING I PRIDE MYSELF ON AND WE WANT TO MAKE SURE WE'RE ONE OF THE BETTER COMPANIES PERIOD.

NOT JUST ONE OF THE BETTER BLACK COMPANIES BUT ONE OF THE BETTER COMPANIES IN THE CANNABIS INDUSTRY.

>> YOU ARE OFF TO A STRONG START.

>>> UNIVERSITIES ARE DOING THEIR PART IN EDUCATING WOULD BE CANNABIS ENTREPRENEURS.

THIS WEEK A UNIVERSITY ANNOUNCED THE LAUNCH OF A NEW STUT FOR CANNABIS RESEARCH POLICY AND WORKFORCE DEVELOPMENT.

STOCKTON UNIVERSITY IS ALREADY TURNING OUT GRADUATES FROM ITS TWO YEAR OLD CANNABIS STUDIES PROGRAM.

WE SPOKE WITH ONE RECENT GRAD ABOUT WHERE SHE SEES HER CANNABIS CAREER TAKING HER.

ROBIN, FIRST OF ALL, THANKS SO MUCH FOR YOUR TIME.

>> YOU'RE VERY WELCOME.

NICE TO BE ON HERE.

>> SO HOW MUCH OPPORTUNITY TO YOU SEE NOW THAT NEW JERSEY HAS LEGALIZED MARIJUANA FOR YOU PERSONALLY HOW DO YOU SEE YOUR CAREER UNFOLDING?

>> OH, MAN, THE OPPORTUNITIES ARE THERE.

AND THERE IS NO CEILING FOR THE CANNABIS INDUSTRY AT THE MOMENT.

LEGALIZING IS JUST THE FIRST STEP OF WHERE WE'LL BE TAKING THIS PLANT, THIS CULTURE ALL TOGETHER, WHERE I BELIEVE ONCE WE SHOW THAT OUR TRI-STATE AREA THAT THIS IS POSSIBLE AND NOT ONLY ARE WE MAKING PEOPLE BUT MAKING PEOPLE HAPPY WITH THE PRODUCTS THAT THEY ARE UTILIZING, ONCE WE GET IT DOWN TO A SCHEDULE II AND START HAVING TESTING IN, WE'LL NOT ONLY HAVE A MINOR IN IT BUT HAVE AN ENTIRE DEGREE IN IT.

THEY WILL HAVE MASTER STUDIES.

THERE'S SO MUCH POTENTIAL THAT WE HAVE JUST IN NEW JERSEY LET ALONE THE UNITED STATES ONCE WE, YOU KNOW, LEGALIZE MARIJUANA AND CAN NABIS ALL TOGETHER.

>> WHAT PREPARED YOU TO DO THIS?

HOW DID YOU FIND A PLACE IN INDUSTRY AS IT GROWS IN NEW JERSEY?

WHAT KIND OF JOB ARE YOU INTERESTED IN?

>> SO, PERSONALLY SPEAKING, I THINK AT THE END OF THE DAY I WOULD LOVE TO HAVE MY OWN DISPENSARY.

I WOULD LOVE FOR MY PATIENTS TO KNOW WHAT CANNABIS THAT THEY ARE Y UTILIZING, KNOW THAT THERE IS NO SUCH THING AS PURE BUT BECAUSE OF HYBRIDATIONS SO MUCH POSSIBILITIES FOR SYMPTOMS TO BE ALLEVIATED AND STOCKTON HELPED ME TURNING PROFILES, DIFFERENT TYPES AND HOW THESE THINGS IS NOT JUST THE SMELL OF CANNABIS BUT CAN PRODUCE A DIFFERENT EXPERIENCE ALL TOGETHER.

I ACTUALLY JUST GOT BACK FROM MICHIGAN WHERE I WAS WORKING IN A DISPENSARY ONE OF THE FIRST DISPENSARIES OUT THERE AND SEEING THE LINES THAT NEW JERSEY IS TAKE TO GO OFF ON, COMPARING TO IT MICHIGAN, REAL PERSONAL EXPERIENCES, I BELIEVE THAT NEW JERSEY IS NOT ONLY GOING TO PROGRESS FARTHER THAN MOST OF THE PEOPLE THAT WE'VE HAD, MOST OF THE STATES HAVE ALREADY LEGALIZED, BUT I BELIEVE THAT THEY ARE GOING TO DO IT IN A SCIENTIFIC WAY WHERE WE WILL BE ABLE TO, YOU KNOW, LEARN ABOUT THE PROGRESS AS WE GO ON.

>> ROBIN, THANK YOU VERY MUCH.

GOOD LUCK TO YOU.

>> THANK YOU VERY MUCH.

>>> AND THANK YOU FOR WATCHING "NJ BUSINESS BEAT."

ARE YOU A BUSINESS INTERESTED IN SPONSORING "NJ BUSINESS BEAT"?

CONTACT STEVE PRIOLO AT THE EMAIL OR PHONE NUMBER YOU SEE AT THE BOTTOM OF YOUR SCREEN.

I'M RHONDA SCHAFFLER.

WE WILL SEE YOU NEXT WEEK.

>> Announcer: FUNDING FOR "NJ BUSINESS BEAT" PROVIDED BY NEW JERSEY CHAMBER OF COMMERCE, WORKING TO KEEP NEW JERSEY IN BUSINESS.

ONLINE AT NJCHAMBER.COM.

CGI, A GLOBAL I.T.

AND BUSINESS CONSULTING SERVICES FIRM.

WE HAVE BEEN HELPING GOVERNMENTS AND PRIVATE SECTOR CLIENTS IN NEW JERSEY WITH THEIR EVOLVING TECHNOLOGY NEEDS FOR 30 YEARS.

LEARN MORE ABOUT OUR SERVICES AT CGI.COM.

AND IBEW LOCAL 102, PROUDLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 1900.

LOCAL 102, LIGHTING THE PATH, LEADING THE WAY.

VISIT IBEW102.ORG.

♪