CANTON — A new $12 million facility to process industrial hemp is coming to Canton, creating 45 new jobs over the next few years.
Abundant Labs announced plans to open a state-of-the art hemp processing facility in Canton on Monday. The company will add 18 new jobs and create up to 45 jobs within the next few years.
“The Haywood Economic Development Council is excited to welcome Abundant Labs to our county. They are on the leading edge of the burgeoning industrial hemp business in North Carolina, and will provide both substantial investment and new jobs in our community”, said Ken Flynt, board chairman of the Haywood Chamber of Commerce.
Abundant Labs has specifically developed technology for processing hemp extracts.
"Abundant Labs provides extraction of the cannabinoids from the cola of the Cannabis Sativa L with genetics high in CBD,” stated Jodi Miller, media relations for Abundant Labs. “The lab takes the extracted product to deliver either a Full Hemp Extract to business for creation or consumer products or isolation of certain cannabinoids to provide higher concentrations of specific molecules.”
While the announcement was made Monday, the county's economic development team has been working closely with Abundant Labs to bring the firm to Haywood. It is the first major win for the Haywood County Chamber of Commerce since taking over the role of economic development from the county.
“The Haywood Chamber of Commerce is excited to welcome an emerging business to Haywood County and Canton,” said CeCe Hipps, president of the Haywood Chamber of Commerce.
The passage of the new Farm Bill last year cleared the way for cultivating the industrial version of the crop and eliminating it from the federal list of controlled substances.
Hemp production has been legalized in North Carolina, but only as part of the state's pilot program as allowed under federal law. NC General Assembly has passed legislation allowing the Industrial Hemp Commission to develop rules to stay within federal laws.
Hemp is grown for fiber, grain and floral materials. The fibers can be used for many products including rope, textiles and the automotive and petroleum industries. The grain is used for human food such as granola bars and protein powders. The pressed seed oil from the grain is used like sunflower seed oil. The floral materials are sold to extraction companies to remove the chemical oils/extracts that the hemp flower produces.
North Carolina is listed in the “top 10” of the nation’s hemp-growing states behind Colorado, Kentucky, Oregon, North Dakota, Minnesota and New York.
Abundant Labs is registered with the N.C. Industrial Hemp Commission as a processor. Dozens of similar companies have started across the state over the past year.
Check back this evening to learn more details about the location's site and information shared by the Abundant Labs team.