Kentuckiana is having a big week in the CBD world.
A CBD production site may be in the works for Jeffersonville, Indiana, while another is coming to Danville, Kentucky.
CBD is drawn from the flower of the hemp plant. Both hemp and marijuana are derived from cannabis sativa, but CBD products cannot get you high because it lacks the high levels of THC found in marijuana. CBD oil is used medically for chronic pain and other health issues, and it is also featured in lotion and other beauty products.
In Jeffersonville, the 6,000-acre River Ridge Commerce Center is trying to land a hemp manufacturer.
Layn USA, the U.S. subsidiary of the Chinese company Guilin Layn Corp., has signed a purchase and sales agreement with the River Ridge Development Authority to explore the possibility of constructing a CBD manufacturing facility. The project would cost $52 million to build a 24.6-acre facility.
The new CBD manufacturing facility would be able to process a minimum of 5,000 tons of hemp biomass annually, according to a press release.
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“We are very excited Layn is considering Jeffersonville as the site for its new manufacturing facility,” Jeffersonville Mayor Mike Moore said in a statement. „A lot of work has been put into ensuring Jeffersonville is attractive to a variety of industries, both domestic and international. It is gratifying to see that work paying off.”
Layn is also considering locating the manufacturing center at a number of sites in several states, including Colorado and Kentucky, according to the press release. It is unclear when Layn will make a final decision.
Meanwhile, central Kentucky is also making a splash in hemp production.
On Tuesday, Gov. Matt Bevin announced that International Farmaceutical Extracts, a Lawrenceburg-based firm that specializes in CBD oil extraction and distillation, plans to build a $6 million, 11,750-square-foot manufacturing plant in Danville.
„Hemp production was once a significant staple to our community’s agricultural past, and it can be again for our economic future,” Danville Mayor Mike Perros said in a statement.
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The facility will create up to 34 full-time jobs over a 10-year period, according to a press release. The company will produce up to 5,000 pounds of CBD oil per day.
Hemp has provided a major boon for Kentucky’s economy. Kentucky Agriculture Commissioner Ryan Quarles previously said that hemp brought in $57.8 million in gross product sales last year. This is a drastic improvement from 2017, which saw $16.7 million in sales.
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