Sign New Jersey Banking Living Will Myself

Industry sign banking delaware business plan template online

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 this week on nj business beat the future looks green we sit down with the new head of new jersey's green economy council to learn how the state's environmental initiatives will spur economic growth plus including everyone in new jersey's rebound why lawmakers say there will be no economic comeback 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 nj business beach [Music] this is nj business beep with rhonda schaffler [Music] hello i'm rhonda shapler thanks for joining us on nj business beach if you're watching on youtube make sure you subscribe to our nj spotlight news youtube 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 the green economy and set up a council that's tasked with charting a path to environmentally friendly economic development i talked with jane cohen who's leading the efforts to rethink new jersey's economy and its workforce jane you've 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 that question rhonda so just taking a quick step back since day one the governor has made it very clear that he sees the 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 we transition to the to the green economy so how will 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 also benefit absolutely and that's one of the biggest priorities with this council and with 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 or what their income is has the opportunity to both take advantage of the clean energy economy and where they want to to participate in in the clean energy economy so yes the the wind farms are in south jersey but there's solar all across the state there's energy efficiency all 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 that you might face and obviously there's such a great need right now to get people re-trained to have lost their jobs due to the pandemic so workforce training is really the the key here in understanding what kinds of trainings there need to be to meet the the job demands of tomorrow and that is what we are doing with this council we're on so for folks who have lost their jobs for for whatever reason because of the pandemic or who who will be transitioning from traditional energy jobs into clean energy jobs for folks who have been traditionally underemployed in the energy we are really working on what kinds of trainings we need to ensure that all of those folks will have opportunities in the clean energy economy so i know you're 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 um my personal objective is that this is not an academic exercise this is really a road map that we can use to to chart our future in our equitable future and we are going to 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 worse 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 that perhaps minority minority-owned businesses won't be able to uh move at the same pace as other businesses well i think the covet pandemic has 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 it relates to fulfilling their growth and the initiatives that we've tried to put forth are designed to strengthen that business network that is so vital to our state's economy but make sure that everyone takes advantage of the economic growth that we project to 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 is critically important for the minority business development grant program to come to fruition and in fact it's something that governor murphy's administration started have started to look at and take some work on through the new jersey economic development authority to really try and bolster the support network that it surrounds our minority businesses and allow them to have the the sort of foundational support that allows them to grow so that fund which is a 50 million dollar fund to be derived from federal resources from the karazak money that the state has received already its purpose is to sort of jump start those businesses and 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 one of these ongoing issues what else can we 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 many lending organizations have as far as china especially the minority depository institutions uh which are many of those uh smaller banks and lending institutions that primarily lend to minority businesses we need to make sure that we are not putting artificial barriers in front of them especially as they engage in the new jersey economic development authorities programs to allow them to be able to lend the capital that is necessary to see these businesses flourish and i think if we do that if we if we're aggressive and intentional about removing those barriers we'll see those communities banks and we'll see 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 conversations at companies across this country about inequality as the pandemic helped to bring long festering issues to light so 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's laurie murray explains how corporate america is trying to change the way it does business lori the conference board held a conference that really asked 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 and inclusion has been an important issue uh among companies with you know within business uh for years but with the killing of george floyd uh and the tragedies that followed the economic crisis uh that has resulted from coven 19 and the spotlight that coven 19 has shown on the disparities of the impact of both the economic hardship hardship as well as uh the health uh disparities in terms of low income uh and communities uh uh that have been underserved has really raised the the importance of this issue uh really to the ceo level you know we're seeing across the board that it's actions within their companies uh to deal with diversity and inclusion uh both on the board level uh and end on the leadership level uh among management leadership and then to have open and honest discussions among their employees uh on these issues and how to improve uh the culture within companies as well as their role in the broader community one million and ten year initiative that was launched by uh kenshin although was talking to us as well as one of our uh ced trustees ken frazier where the companies are committing to hiring 1 million black employees over 10 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 uh it's interesting because uh dan schulman of paypal uh said it i think most clearly uh profit and purpose are not at odds the point is that in order to succeed and compete as a business the data is obvious and the ceos know it they see it firsthand that diversity inclusion diversity meaning a diverse set of thoughts uh involvement innova helps innovation and inclusiveness employees who feel that they belong who feel uh comfortable in their work space which is a significant portion of their life feel that their company has a that they are working for a company that has a purpose actually helps innovation it helps productivity and it helps also improve the lives of employees as well laura thank you for your time okay thank you there's some controversy surrounding governor murphy's newly named cannabis regulatory commission as the naacp this week raised objections to the commission's makeup because it doesn't include a black man this is just the latest bump on the slow road to setting up new jersey's marijuana industry which is in focus for us today while adult use has been legalized 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 from weed i talked with rutgers professor dr charles manyfield about just how much green the state stands to earn from the green plant professor you've done some number crunching around the potential for a legalized marijuana industry in new jersey what it means in terms of revenue what is your research shown basically what we did is we took the data and we split it into the three major categories we looked at uh sales taxes we looked at excise taxes and then there's also uh monies that will be collected with respect to applications and the licensing so with respect to sales taxes in the state of new jersey the model has three different parts the first part looks at a rate at 10 12 and 15 and at the highest margin we would we estimated that the state would collect 107 uh million dollars this is a full saturation point so the first year would probably take some time to get it ramped up to get the businesses in place etc but at full market saturation about 107 million with respect to excise tax again at you know comparable rates 10 12 15 at the highest rate we estimated about 58 million a year and in terms of licensing and application fees that's about seven and a half million dollars a year and 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 pennsylvania and delaware also have paved the way for uh decriminalization and legal legalization of recreational marijuana in their states so once those states come online it's going to change things here after those states do legalize i would suspect that new jersey is going to see a great difference in these numbers right here so while those states are have not legalized these numbers will be higher than they are so i mean when you look at the overall trajectory for legalized marijuana and the money to be made from it how do we fare compared to other states and is it really um perhaps are we looking at estimates elsewhere that are too optimistic given the incoming competition now this is a very very lucrative market and i've seen some numbers that are that are lower than my numbers i've seen some numbers that are higher um there's a lot of money to be made in this market i mean and the fact of the matter is people are using it so uh no i think it's the the state will fear very well even once new york if they actually do uh pass a law and enact it if new york delaware and pennsylvania you know 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 a 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 paved the way for us so there's lots of examples for us to follow and i think you're making a very valid point states use these monies for a variety of reasons but even in creating the physical infrastructure to to regulate the industry there's lots and lots of evidence colorado california they have very well established marijuana programs um so there's no reason for us to really have any missteps you know politics unfortunately kicks in along the way that's going to be the biggest problem we're regulating the industry there's lots of models to follow and lots lots of good models to follow professor thank you so much for your insight in for pulling out some numbers 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 customers diane bryant is ceo of the east orange based company roll up life tyan it's great to talk to you and uh 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 um a lot of people think that that process started when phil murphy announced the legalization of it last week but this process has been a process that's been going on for about the last four or five years now um so to prepare for this um it started off with my college years i went to college over on the west coast at boise state university idaho is not a legal or recreational medical marijuana state at all but the border states of oregon washington and california were all going into the recreational market and at the same time new jersey had just passed the jake holding law which allowed for medical marijuana to come into the state with the first initial six atc's that we have here so just noticing that trajectory um and i i took a big leap of faith and i believe that we were gonna actually become one of those wreck states coming s on uh soon so i just started down uh a path of trying to understand the cannabis industry rather than trying to build the company at first just what what what do i feel as though the industry needed and how could i fill that niche so you sell some cdb products how do you plan to transition over tell us a little bit about your game plan continuing with our strong branding now and like expanding on our marketing ideas expanding on the people we're trying to touch like people like you hi mom right um this this this can be something that works for you as well so just just more so expanding on what we already have going on staying legit uh staying genuine to who we are staying genuine to our customer base and i think we'll be fine moving forward okay you're a good salesman if you're trying to sell me in the middle of the interview so i'll i'll give you that what's going to set you guys apart from the other competitors our technology our customer service um the way we're presenting products um the way we are as as leaders of our company um our political ties like just there's so many different things that we've been working on over the last four years to get us through that hump to get us over the door our way that i think that we're going to be be able to compete i won't say here and say that we're going to take over the landscape and dominate it like everyone else would try to go off and on going crazy attendance but we're here we're um we're all former college athletes and we're all just ready to compete you've gotten some attention by the fact that you're a minority owned cannabis company how important is there that there's minority representation in an industry that's going to grow like this in new jersey well first and foremost we all understand the rate of incarceration due to the drug that we're now talking about so having some representation there is literally essential um showing other little kids that you don't have to go out and do it the wrong way um that you don't have to pick up a basketball that you can do business um is definitely something that that is pride in us throwing through um we've been hosting so many different educational seminars there's so many different things about this plant flower touching and non-flower touching that people of my demographic haven't been exposed to like they only know you know what's in their face of the nuances of the industry so to to to be a young young black uh business at that um sitting here making headway is something that we're priding ourselves on and we want to make sure that 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 throughout throughout the land well listen i wish you the best of luck looks like you're off to a strong start it's been great listening to your story appreciate it thank you new jersey's universities are doing their part in educating would-be cannabis entrepreneurs this week rowan university announced the launch of the new institute for cannabis research policy and workforce development and stockton university is already turning out graduates from its two-year-old cannabis studies program we spoke with one recent grad robin nolan about where she sees her cannabis career taking her robin first of all thanks so much for your time oh you're very welcome rhonda it's nice to be on here so how much opportunity do you see now that new jersey has legalized marijuana for you personally how do you see your career unfolding oh man the the opportunities are there are there and there is no ceiling for the cannabis industry at the moment legalizing is just the as phil murphy says it's just the first step of where we're going to be taking this plant this uh culture all together where i believe once we uh show that our tri-state area that this is possible not only are we making money but we're actually making people happy with the products they're you know utilizing uh once we get it down to a schedule two and we start having testing in we're gonna not only is stockton gonna have a minor in it but they're gonna have an entire uh degree in it they're going to have master studies they're going to be there's so much potential that we have just in new jersey let alone uh the united states once we you know legalize marijuana and cannabis all together what did your studying at stockton prepare you to do how would you like to find a place in the industry as it grows in new jersey what kind of job are you interested in so personally speaking um i think at the end of the day i would love to have my own dispensary but not really going from business in but knowledge out i really would love for my patients to know what cannabis that they're you know utilizing knowing that there is no such thing as a pure sativa or pure indica anymore that we're going to get hybrids but because of those hibernations so much more possibilities for symptoms to be alleviated and um stockton definitely helped out with uh teaching me you know terpene profiles the different types between you know merciness limonene and and pining and how these things it's not just the smell of the cannabis but can could produce a different experience altogether i actually just got back from michigan where i was working in a dispensary one of the first rec dispensaries out there and seeing you know the lines that new jersey's taking to go off on comparing it to michigan's you know real first experiences i believe that new jersey is not only going to progress farther than most of the people that we've had um most of the states that have already uh legalized but i believe that they're going to do it in a scientific way where we will be able to you know learn versus our progresses as we go on robin uh thank you very much and 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 schapfler we'll see you next week funding for nj business b 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 [Music] you