SOUTH BOSTON, Va. – We’re learning more about the potential economic impact the state’s first large-scale hemp processing plant could have on southwest Virginia.
Blue Ribbon Extraction’s facility in South Boston could process more than $100 million worth of hemp and create dozens of jobs.
As 10 News reported, the company announced plans Thursday to initially buy $70 million worth of hemp and create 22 jobs over the next three years.
The company currently has contracts with 80 growers in Virginia and North Carolina.
“That’s only the tip of the iceberg. The most important thing to realize is, the first year with 80 farmers, every one of those farmers has five to six employees who are working this hemp. So you do the multiplier fact with that, it’s a significant number of jobs,” Blue Ridge Extraction Co-Chairman Sterling Edmunds said.
The facility will be located in the old Blue Ridge Beverage building in the Houghton Industrial Park.