Its first location in Paterson opened in December 2019. It was the first 2018 Request for Applications awardee to open a retail location. In total, GTI operated 54 dispensaries nationwide.
“We are honored to open Rise Paramus, which will benefit the thousands of registered medical cannabis patients in Bergen County with its geographical proximity and high-quality products for which Rise™ is known,” said Green Thumb Founder and Chief Executive Officer Ben Kovler in a prepared statement.
Profits from the first day of sales will be donated to the Paramus Children’s Health Foundation.
Marty Diamond, president of Paramus Children’s Health Foundation said he was “delighted to acknowledge the generosity of Rise Paramus” and that “children’s health has continued to be a critical issue during the pandemic and these funds will be put to good use to help defray the medical costs of our target population.”
Along with its first New Jersey location, Paterson is home to GTI’s manufacturing facility that produces and distributes its branded products including Rythm, a line of premium flower and vapes.
Currently, more than 104,000 New Jerseyans are registered in the state’s medical cannabis program. This is the second dispensary to open in New Jersey since Gov. Murphy signed enabling legislation that will create an adult use marketplace, projected to generate $850 million to $950 million in annual retail sales by 2024 by industry source Marijuana Business Daily.
Rise Paramus is located at 145 Route 4 West in Paramus and will be open Monday to Friday from 10 a.m. to 7 p.m. and Saturday from 10 a.m. to 5 p.m. The dispensary offers online reservations and in-store pickup.