Canopy Growth settles on New York hemp site, will start building this summer

Canadian marijuana giant Canopy Growth has chosen a small New York town near the Pennsylvania border as the site for its $150 million entrance into the U.S. hemp market.

Canopy announced Monday it will build an industrial park on a 48-acre property in Kirkwood, New York, about 5 miles north of the Pennsylvania border.

The property includes a 308,000-square-foot facility.

Canopy said it will begin construction this summer on facilities for hemp-derived cannabinoid extraction “and related manufacturing.”

In January, the company announced plans to spend up to 200 million Canadian dollars ($148 million) developing the hemp park.

Canopy Growth CEO Bruce Linton said in a statement that the New York industrial park could one day also be home to “like-minded businesses who share our excitement for the emerging hemp and hemp-derived cannabinoid markets.”

The company said it does not plan to grow hemp in New York, instead making agreements with farmers to supply the plant with priority given to New York state farmers.

Canopy Growth trades on the New York Stock Exchange as CGC.

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3 comments on “Canopy Growth settles on New York hemp site, will start building this summer
  1. Ray on

    Go Canada! The United States of America is so far behind in their hemp laws foreign countries like Canada and China are going to crush the American Hemp Industry. Once this happens American farmers will have to beg the Canadians to play fair. According to Mitch McConnell he’s doing a great job yet people are being arrested in Texas for hemp CBD oil and South Dakota won’t even allow American Farmers to grow hemp.

    What did America do to deserve this?

    Reply
    • Robert Jack on

      I’ll tell you what America did to deserve this. We were sold out by our own politicians and former presidents. Americans allowed themselves to be brainwashed. Need I mention Oil. These are the facts. We could have won or could be winning the Hemp Race. But instead we let the world leave us in the dust. History has shown that all empires rise and eventually fall. America is a declining empire. Hemp will play a major roll in the history books of the future citing the cause of our decline. I began saying this 30 years ago. Nobody listened to me then. Is anybody listening now? To answer Ray’s question, we have been sold out out. It is easy to spot those selling us out, if they speak anti cannabis, there they are!

      Reply

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