Table 3. OLS regressions on likelihood of allowing cannabis-related businesses

	(1)	(2)	(3)	(4)	(5)
Log of population	0.063***	0.052***	0.057***	0.041***	0.043**
	(0.015)	(0.015)	(0.015)	(0.015)	(0.018)
% residents with 65+ year old	0.001	0.001	–0.000	0.000	0.000
	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)
Property tax rate	0.001	0.002	0.000	–0.014	–0.017
	(0.022)	(0.021)	(0.018)	(0.016)	(0.017)
Log of equalized property values	–0.084***	–0.076**	–0.025	–0.046*	–0.022
	(0.030)	(0.030)	(0.029)	(0.027)	(0.032)
At least one neighbor opted in		0.104***	0.096**	0.084**	0.047
		(0.037)	(0.037)	(0.036)	(0.042)
MRI score			–0.016***	–0.013***	–0.014***
			(0.005)	(0.005)	(0.005)
% residents voting for Biden				0.005***	0.004**
				(0.001)	(0.002)
County fixed effects					√
Adjusted R-squared	0.0676	0.0765	0.0961	0.113	0.109
Total observations	565	565	565	565	565

Robust standard errors are in parentheses. The unit of analysis is at the municipality-level. At least one neighbor opted in is a binary variable that equals 1 if a neighboring municipality that shares a border with the municipality opted in and 0 otherwise. The municipality revitalization index (MRI) is a continuous variable created by the NJ Department of Community Affairs that measures the socioeconomic status of the municipality. The higher the value for the MRI implies that municipality if relatively more affluent compared to municipalities with a lower value for the MRI.
p<0.1,
p<0.05,
p<0.01.
OLS, ordinary least squares.