One Virginia community is on track to becoming a hemp powerhouse, with the announcement of a new industrial hemp operation. On December 29, Virginia Governor Ralph Northam announced that Pure Shenandoah will invest almost $3.3 million to set up an industrial hemp fiber processing and CBD oil extraction facility in Elkton.
Pure Shenandoah’s operation will create 24 new jobs in the area and will acquire 100 percent of its industrial hemp from Virginia-based growers, which they predict will result in almost $5 million in revenue to farmers in the state over the next three years.
“Virginia’s industrial hemp industry continues to experience tremendous growth, creating a wealth of opportunity across our Commonwealth,”Governor Northam stated. “Projects like this one are an important part of diversifying our economy and developing new markets for industrial hemp. Our administration remains committed to supporting growers and processors as we work to ensure this crop has a sustainable future in Virginia.”
The Virginia Department of Agriculture and Consumer Services (VDACS) and Virginia Economic Development Partnership (VEDP) worked in association with Rockingham County and the county’s Economic Development Authority to get the project off the ground.
Governor Northam also approved a $50,000 grant from the Governor’s Agriculture and Forestry Industries Development Fund for the project. Rockingham County plans on matching the grant with local funds.
Pure Shenandoah will be the first company to participate in Virginia’s Finest trademark program to utilize locally-grown hemp, which supports the local economy. “Pure Shenandoah is a great example of the many ways we are able to help innovative, agriculture-based companies grow and thrive in the Commonwealth,” Secretary of Agriculture and Forestry Bettina Ring said in a press release. “I am pleased to see continued job creation and investment in Virginia’s industrial hemp industry and excited for the new market opportunities the industry is creating for our farmers.”
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