Veterans Propose Recreational Marijuana Business In Moorestown

MOORESTOWN, NJ — Four months after Township Council approved the establishment of recreational marijuana businesses as a permitted use in Moorestown, the first business looks to be on its way to town.

Veterans Joseph Dai and Tanner Travers are submitting a Class 1/Tier 1 application to the state for a license to start a cultivation facility in Moorestown. They intend to seek a manufacturing license down the road.

As part of the regulations established by the state’s Cannabis Regulatory Commission in August, they need a letter from the township endorsing the business.

Township Council unanimously approved a resolution to provide that letter at Monday night’s council meeting.

The business, operating under the name Pantheon LLC, is looking to set up a Class 1 Cultivation facility. It would start out at 5,000 square feet when it opens, and eventually expand to 10,000 square feet.

They have not yet decided on a specific location for their business, but they said they chose Moorestown because the township developed a plan quickly.

“A lot of municipalities are not ready for this, but you are open-minded and quick to help,” Travers said. “The area is very nice. We want to be able to generate tax revenue to help you do what you want to do.”

“We are diligently meeting with people,” Dai said. “At most locations in Moorestown, owners won’t rent or sell to us because they feel it is their moral responsibility not to.”

They said they do have a location in mind, and were set to meet with the owners of the land this week.

Moorestown had moved quickly to develop a plan because if the township had done nothing by Aug. 21, they would have lost control over whether they wanted recreational marijuana businesses in the township.

By approving them as a permitted use, they have a measure of control over the businesses, and the township is able to collect tax revenue. Read more here: Recreational Marijuana Businesses Approved For Moorestown

New Jersey municipalities had to approve their plans by around the same time the commission established their regulations, which resulted in some towns - such as Cherry Hill - deciding to delay a vote on the issue.

The regulations were approved in late August. Read more here: NJ Marijuana Market Rules Approved: Here's What We Know

In addition to requiring a letter of support from the municipality, recreational marijuana businesses are asked to prioritize applications from "certified minority-, women-, and disabled veteran-owned businesses, and from applicants who live or will operate in one of several designated Impact Zones or economically-disadvantaged areas."

Dai and Travers said this is in the plans for Pantheon, which will focus on hiring disabled veterans. They will also look to hire women and minorities through a rigid 6-step hiring process.

“There’s a high turnover rate in the cannabis industry,” Dai said. “We’re trying to not only recruit, but also retain people.”

They also want to give back to the community by hiring those people locally. When crafting their ordinance, Township Council had expressed a desire for whoever starts a recreational marijuana business in Moorestown to contribute to the community.

Travers and Dai said another way they can contribute could be by sponsoring local sporting events and doing things to break the stigma surrounding marijuana.

They want to be able to employ between 20 and 30 people by the second quarter of 2023, and move into manufacturing within 2 to 3 years.

For now, they intend to start out with three employees. The two of them are working with a cultivator who currently lives in Colorado and has been legally growing marijuana for about 10 years.

Travers is currently pursuing a bachelor’s degree in biological sciences, which he expects to obtain in 2023. He said the idea to start a recreational marijuana business was born out of discussions they used to have with a 19-year-old man who would later pass away from cancer. Both Travers and Dai were friends with this man.

“When he was sick, we saw the benefits marijuana can have for someone,” Travers said. “We would joke that I would go to school for agriculture, and he would go for business.”

After New Jersey residents voted to legalize recreational marijuana in 2020, Travers and Dai decided it was time to start a recreational marijuana business.

“The American Dream is alive and well,” Travers said.

They came one step closer to realizing their dream Monday night.