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Northam says new facility will process hemp and CBD oil

Posted at 11:54 AM, Jun 19, 2020
and last updated 2020-06-19 11:54:15-04

RICHMOND, Va. -- Virginia Gov. Ralph Northam has announced that a company will invest more than $3 million to establish the state’s first large-scale facility to process hemp and to extract CBD oil.

The governor’s office said in a statement Thursday that the project will create 22 new jobs and that the company has committed to buying 90 percent of its hemp from growers in Virginia.

Blue Ribbon Extraction's facility will be located in the Town of South Boston in Halifax County, which is outside of Danville and near the North Carolina border.

The Democratic governor said the company will spend $70 million on payments to Virginia farmers over the next three years.