CBD and other industrial hemp materials may have a new avenue of production in Virginia with the announcement of a massive new project.
According to reporting, over $3 million has been appropriated toward Blue Ribbon Extraction’s new CBD processing facility in South Boston. That will make this the biggest hemp and CBD processor in the state.
Overall, the new venture is expected to add 22 jobs and millions of dollars in productivity to an exciting new arena of Virginia’s commerce, according to the Associated Press.
“We look forward to partnering with farmers to establish a local market for a new agricultural crop right here at home in Halifax County,” said Co-Chief Executive Officers, Sterling Edmunds, Jr. and Rick Gregory, in an interview with the Augusta Free Press.
“We currently have 1.2 million pounds of hemp under contract with farmers for the 2020 growing season. With the support of our partners in Halifax County and the Town of South Boston, Blue Ribbon is off to a great start and, at full capacity, has the ability to process 6 million pounds of hemp annually. Approximately $10 million will be invested in bringing this project to reality for Southern Virginia.”
Blue Ribbon, also known as BRD Extraction, LLC, also told Governor Ralph Northam the company would source as much as 90% of its raw hemp from farmers in the state, the AP reports.
According to the Free Press, $200,000 in state agricultural grants will also be directed toward the new project in order to drive innovation and growth in the new area.
“There has been tremendous growth in Virginia’s industrial hemp industry, creating new opportunities for rural communities to thrive,” Secretary of Agriculture and Forestry Bettina Ring told the Free Press.
“By locating this large processing facility in an emerging geographic center of industrial hemp production, Blue Ribbon Extraction will create a local market for the crop, addressing one of the biggest challenges currently facing the industrial hemp industry in Virginia.”
Throughout recent years as CBD and other industrial hemp production uses have exploded on the scene, southeastern states like Virginia in the former tobacco belt have increasingly looked to hemp and CBD products as smoking has declined across America.
CBD is a non-inebriating relative of THC, the active ingredient in marijuana.
Industrial hemp and its CBD derivatives were made legal in 2018 and ordinary people use them everyday for their chronic pain, anxiety, inflammation, insomnia and other issues.
Ask your doctor if CBD is right for you!