$1M grant announced to help Kentucky hemp processing company

FRANKFORT, Ky. (AP) – A Kentucky company that specializes in storing and processing Kentucky-grown hemp for the purpose of cannabidiol oil extraction and refinement will benefit from a $1 million grant.

Governor Andy Beshear and the Department for Local Government announced the Community Development Block Grant to Mount Vernon on Tuesday.

Beshear’s office said in a news release that the grant is to help local company Kentucky Farmaceuticals develop its business and assist with job creation. The project is expected to create 50 full-time jobs over the first two years.