New Mexico's fledgling cannabis industry is about to get a big upgrade in the form of a $300 million cannabis facility.
New Mexico's Governor Michelle Lujan Grisham has announced that one of the U.S.'s largest cannabis facilities will be built in the state thanks to Bright Green Corp.
Costing roughly $300M, the proposed cannabis facility could generate close to 400 jobs across construction, research and agriculture.
"I couldn't be more excited about the development of another world-class research facility right here in New Mexico," said the State's Governor Lujan Grisham about the upcoming facility.
New Mexico legalized recreational cannabis use in April 2021, with sales expected to commence in April 2022. However, the Bright Green cannabis facility will be focused on producing medical cannabis for research purposes.
"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," said Grisham.
The facility will be built in Grants, New Mexico by Bright Green Corporation, and has been approved by the Drug Enforcement Agency (DEA).
"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," said the Chairman of Bright Green, Terry Rafih.
The move should accelerate research on cannabis in the U.S. and follows a recent move by the DEA to allow for increased cannabis cultivation for research purposes. For years, the DEA has come under fire for stonewalling research around cannabis, which has significantly slowed a greater understanding of the plant.
It looks like the floodgates to cannabis research are just beginning to open.
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