New Mexico Governor Michelle Lujan Grisham continues to support cannabis-related activities. Following the governor's signing of the Cannabis Regulations Act in April, Bright Green Corporation confirmed its $300 million investment in a state-of-the-art agricultural ecosystem, which will make New Mexico home to one of the largest cannabis manufacturing and research facilities in the nation.
The new high-tech cannabis facility will be built on the company’s property in Grants, New Mexico. It will feature automation infrastructure, providing “consistency and purity to the production” of cannabis for medical research purposes.
According to Bright Green, the project will initially create more than 170 construction jobs and around 200 research and agricultural jobs.
Recently, Bright Green obtained approval from the Drug Enforcement Administration to facilitate the production, storage, packaging and distribution of medical research cannabis in keeping with new regulations expanding the number of research cannabis cultivators. Bright Green executed a memorandum of agreement with the DEA earlier this week.
“I couldn’t be more excited about the development of another world-class research facility right here in New Mexico,” Gov. Lujan Grisham said. “New Mexico as a state has a legacy of leading in research and science. And Bright Green is an exciting partner that I’m glad has chosen to make an impact here in our state. We have the talent, workforce and innovative spirit to make this forthcoming new industry a complete success. Investments like this one make me even more optimistic.”
Bright Green chairman Terry Rafih added that “Governor Lujan Grisham, New Mexico’s federal delegation and the local and Tribal communities in Cibola County have worked with us from the beginning to create the right environment for innovation and research and we are excited to finally share news of this investment with the rest of New Mexico.”
Image Credit: Matca Films
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.