Magnolia Botanicals, a joint venture between South Carolina-based Blue Water Green Bridge and United Cannabis Corporation, plans to establish an industrial hemp processing plant in Ridgeville, South Carolina. With a capital investment of $3.2 million, the company will create 52 jobs in Dorchester County.
Located at Pine Hill Business Campus in Ridgeville, the company will provide hemp extraction services for farmers working under the 2018 Federal Farm Bill and the S.C. Department of Agriculture’s Industrial Hemp Pilot Program. Operations are expected to be online by the first quarter of 2020.
As an incentive, the Coordinating Council for Economic Development has approved job development credits related to this project.
“Establishing a state-of-the-art processing facility in Dorchester County gives us a competitive advantage in this emerging market. We are proud to call the Lowcountry home and excited to bring 52 new jobs to this community,” said Blue Water Green Bridge CEO Richard Mudd.
“South Carolina has a rich history in the agribusiness sector, and today’s announcement by Magnolia Botanicals shows that this industry continues to flourish in the Palmetto State. We congratulate this innovative company on its new operations and look forward to all Magnolia Botanicals will achieve in Dorchester County,” Secretary of Commerce Bobby Hitt noted.
“South Carolina’s Hemp Farming Program has brought enormous opportunity to South Carolina farmers, and capable, large scale hemp processing is a key part of future development as the industry grows. We welcome Magnolia Botanicals’ investment in our state and its farmers,” Commissioner of Agriculture Hugh Weathers added.
"We are pleased to welcome Magnolia Botanicals, LLC to Dorchester County and look forward to its continued success. This was a seamless effort among several partners, and this company at the intersection of biotechnology, agribusiness and manufacturing will be an invaluable addition to our region's growing economy,” said Charleston Regional Development Alliance Board Chairman John Hagerty.