Industrial hemp processor AerosourceH plans a $2.8-million at the company’s facility in Ballard County, Kentucky. The company is expected to create 14 full-time jobs.

The company, which produces cannabidiol (CBD) isolate and water soluble nano emulsified CBD for the wholesale market, held an open house today to introduce itself to the community and celebrate the initiation of its second-phase expansion.

“We are proud of the team we have assembled and the growth we have been able to achieve early in our process. We aim to set a new standard in our industry through a steadfast commitment to producing the highest quality product, in a world-class laboratory with the top talent and sources available,” said Nathaniel Pape, AerosourceH COO. “We are grateful for all of the support we have received and for Kentucky’s vision to open crucial economic development pathways.”

To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in February preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.

“The Bluegrass State continues to lead the way in revolutionizing the hemp industry, and AerosourceH is one of many Kentucky companies finding early success in this emerging market,” Governor Matt Bevin said. “As this crop takes root nationwide, the commonwealth’s efforts to set the table for economic prosperity are already paying dividends. We congratulate AerosourceH on its rapid growth, and we look forward to more success stories in the years ahead.”

Commissioner of Agriculture Ryan Quarles said, “When I became Commissioner of Agriculture, I promised to make Kentucky the epicenter of hemp production in the United States,” Commissioner Quarles said. “I am proud of the work the Kentucky Department of Agriculture has done to create an environment for this crop to thrive. I congratulate AerosourceH on their success and wish them well as they grow in the future.”