Hemp company investing $3M in Virginia processing facility

Virginia Gov. Ralph Northam said a hemp company is investing more than $3 million to build the state’s first large-scale processing facility for extracting CBD oil.

BRD Extraction, LLC will be located in the town of South Boston in Halifax County and will do business as Blue Ribbon Extraction.

Northam said Thursday the company will pay farmers $70 million over the next three years, the Associated Press reported.

Northam’s office also said the building project will create 22 jobs. BRD Extraction is committed to buying 90 percent of its hemp from Virginia growers, the governor said.