A Kentucky hemp producer and manufacturer says a new manufacturing facility is on track despite financing snags that have held up construction.
Winchester-based GenCanna Global is building a new processing facility in Mayfield, a town of about 10,000 people in Western Kentucky.
GenCanna President Steve Bevan said the company is working to fix issues with its lender, adding that the contractors would be paid before the matter is taken to court.
“We’re all excited about a quick resolution here,” Bevan told Paducah TV station WPSD.
He added that GenCanna’s farmers are bringing its contracted 2019 hemp crop to other processing facilities in Kentucky. He said he expects the new Mayfield plant will be open in time for the 2020 harvest.
Financing has continued to plague hemp businesses, despite the crop’s federal legalization under the 2018 Farm Bill and continued efforts by lawmakers to encourage federal banking institutions to open their services to the industry.