Canopy Growth, a pacesetter within the Canadian marijuana business, will enter the U.S. hashish market by building a $150 million industrial park in Kirkwood, New York, for the manufacture of hemp merchandise.
Company officers stated Monday that development will start this summer on a 308,000-square-foot facility on a 48-acre property close to the Pennsylvania border.
Canopy introduced in January it might spend up to 200 million Canadian dollars ($148 million) creating a facility for hemp-derived cannabinoid extraction “and related manufacturing.”
The Smiths Falls, Ontario-based firm, which trades on the New York Stock Exchange as CGC. has no plans to develop hemp within the Empire State.
Instead, Canopy will make agreements with farmers to provide the plant, and precedence might be given to New York farmers.