FRANKFORT, Ky. (AP) – Kentucky officials say a company that specializes in CBD oil extraction and distillation plans to build a $6 million-plus manufacturing plant in Boyle County.
Gov. Matt Bevin’s office says the venture will create up to 34 full-time jobs over a decade.
State officials say the announcement by International Farmaceutical Extracts is the latest sign that Kentucky’s hemp industry is flourishing.
Officials say the company plans to buy an existing facility in Danville for the operation.
They say the company will use its extraction and distillation technology to produce CBD oil from hemp flower pellets.
At full capacity, the plant will use hemp flowers from about 15,000 acres of local farms.
Hemp-derived CBD oil has become increasingly popular as a health product.
Kentucky has been at the forefront of hemp’s comeback.