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Hemp Company Bringing Operations To Southern Tier, Investing Up To $150 Million

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BINGHAMTON, N.Y. -

An industrial hemp company is bringing operations to the Southern Tier and investing between $100 and $150 million in the area. Senator Chuck Schumer made that announcement on Monday morning outside the Federal Court House in Binghamton. Schumer says the Canadian company Canopy Growth is "about to sign a contract on a location" for the "industrial hemp, industrial park" which will serve as a processing and research facility as well as manufacture hemp products.

"Not only will this facility be the first of its kind, it will be in the forefront of the entire country," says Schumer, "And help make the Southern Tier the center for a newly unleashed and growing industry."

The newly signed Farm Bill legalizes the growth of industrial hemp across the country, but growing hemp has been legal in New York State since 2015.

Part of the cannabis family, hemp was previously classified as an illegal substance. Hemp is used to manufacture a variety of different products including building materials, rope, supplements, food, beverages, and beauty products.

Schumer says Canopy Growth's new facility will bring an estimated 400 jobs to the area over a several year span. 

Broome County Executive Jason Garnar made the following statement regarding the news:

This is game-changing news for our community. There is huge potential for a tremendous amount of jobs and major economic investment. Our community is well-positioned to be the hub for hemp in New York State and we are ready to see the industry grow and thrive!

Assemblywoman Donna Lupardo also had this to add:

I’ve been working for the last several years to develop industrial hemp into a new agricultural commodity,” said Assemblywoman Donna Lupardo, Chair of the Assembly Committee on Agriculture. “I’ve always thought the growing, processing, manufacturing, and research of this crop would have enormous potential for the Southern Tier and the entire state. This level of investment from Canopy proves that industrial hemp can in fact be a major economic driver for our region.