Industrial hemp company to invest $3.3 million to establish facility in Virginia

Industrial hemp company to invest $3.3 million to establish facility in Virginia
The company will create 24 new jobs and will purchase 100 percent of its industrial hemp from Virginia growers.

RICHMOND, Va. (WHSV/Office of Gov. Northam Press Release) — According to a press release from Governor Ralph Northam’s office, Shenandoah Valley Hemp, LLC, doing business as Pure Shenandoah, will invest nearly $3.3 million to establish an industrial hemp fiber processing and cannabidiol oil extraction facility in the Town of Elkton.

The release says the company will create 24 new jobs and will purchase 100 percent of its industrial hemp from Virginia growers. The release says this will result in nearly $5 million in payments to Virginia farmers over the next three years.

“Virginia’s industrial hemp industry continues to experience tremendous growth, creating a wealth of opportunity across our Commonwealth,” says Governor Northam in the press release. “Projects like this one are an important part of diversifying our economy and developing new markets for industrial hemp. Our administration remains committed to supporting growers and processors as we work to ensure this crop has a sustainable future in Virginia.”

The release says the Virginia Department of Agriculture and Consumer Services (VDACS) and Virginia Economic Development Partnership (VEDP) worked with Rockingham County and the Rockingham County Economic Development Authority to secure this project, and Northam approved a $50,000 grant from the Governor’s Agriculture and Forestry Industries Development Fund for the project. Rockingham County will match this with local funds.

“Industrial hemp is gaining momentum across the country, and we are excited for Virginia to be a player in this up-and-coming industry,” says Secretary of Commerce and Trade Brian Ball in the press release. “Pure Shenandoah will provide quality jobs and enable the Commonwealth’s hemp growers to source extraction and processing within Virginia, further benefiting our economy and agricultural ecosystem.”

Click here to read the full press release from the governor’s office.

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