It is also expected that many U.S. farmers will soon benefit from the coming revival of the industrial hemp industry. However, without the processing of the plant into something that manufacturers can use, it is all for naught. Two planned ventures, one in the state of Kentucky and the other in New York, aim to prevent a market bottleneck at the processing point and help ensure that the potential of industrial hemp turns into a reality.
Kings Royal Biotech, of Capistrano Beach California, just announced that it will break ground next week on a planned $30 million hemp processing plant in Carlisle County, KY after the Kentucky Department of Agriculture approved permits for growing and processing hemp into the pharmaceutical grade CBD isolate. Kings Royal has contracted with farmers in Carlisle and Hickman counties to grow 2,300 acres of hemp. Planting will begin in April and the hemp will be harvested this fall. The company has purchased nearly nine acres in Bardwell, KY for the factory. According to the company, the project will make Kentucky the home of the only pharmaceutical grade CBD isolate in the U.S.
On March 6, 2018, Southern Tier Hemp announced that it will establish a brand new processing facility in the Southern Tier Region of New York state. The company will process hemp and other agricultural commodities for its own products as well as other cultivars. The new processing facility will bring together the necessary technology and expertise to process, extract, refine and formulate products, eventually processing hemp from cultivars all across the northeast. Additionally, through a partnership with Binghamton University, the company will facilitate additional research on CBD and other cannabinoids derived from hemp.