Banning cannabis retail stores in Princeton won’t stop people from using it, Goldstein said.
Goldstein said the town would be missing out on the 2% sales tax that would be levied on the sale of cannabis from a retail store.
One of the reasons to opt in and allow for retail cannabis stores is to encourage Black and Brown entrepreneurs to open a store, Goldstein said.
The ordinance allows up to four cannabis retail stores and up to five delivery licenses.
Would-be business owners/licensees’ applications are scrutinized and earn points, based on eligibility criteria, DeLuca said.
Additional points are earned for being a social equity business, for being a diversity-owned business and for being a micro-business, DeLuca said.
Bellace pointed to Sonoma, California, which had retail cannabis stores.
Bellace said that while cannabis has been legalized in New Jersey, it is still illegal at the federal level.
“It was absolutely mind-boggling to me to see the commercial addiction-for-profit industry pull the wool over a new generation of Americans.
“If you are under the impression that there will be no impact to this other than just taking current cannabis users and giving them a legal place to buy it, that is incorrect.