Bright Green Corp. will undertake a $300 million investment in a state-of-the-art cannabis agricultural research and production facility on company-owned property in Grants, New Mexico. The project is expected to initially create 200 research and agricultural jobs.
According to company officials the complex, which will be one of the nation’s largest cannabis manufacturing and research facilities, will focus on delivering consistency and purity to the production of high-quality cannabis for the advancement of medical research.
“While much is written about the cannabis market, we believe the true contribution of cannabis lies in its medical applications,” said Ed Robinson, chief executive of Bright Green Corporation. “Our vision is to improve the quality of life across a broad demographic group through the opportunities presented by medicinal applications of plant-based therapies, including cannabis derived products.”
Based in Grants, Bright Green was approved by the Drug Enforcement Administration to facilitate the production, storage, packaging, and distribution of medical research marijuana under the new regulations, as well as other applicable legal standards and relevant laws. BGC executed a memorandum of agreement with the DEA earlier this week, company officials said.
“Legal compliance is at the crux of our company ethos, and we will comply with all federal, state, and local laws to supply cannabis for federally sanctioned research. Bright Green will deliver consistent, pure, high quality organic cannabis and cannabis extracts that will provide safe inventory for cannabis researchers around the nation,” Robinson added. “This accomplishment could not have been achieved without the demonstrated commitment of the DEA and the State of New Mexico.”
To obtain an authorization from the DEA, applicants are responsible for demonstrating they have met various requirements, including requirements to possess appropriate state authority, document that their customers are licensed to perform research, and employ adequate safeguards to prevent diversion.
“I couldn’t be more excited about the development of another world-class research facility right here in New Mexico,” said Governor Michelle Lujan Grisham. “New Mexico as a state has a legacy of leading in research and science. And Bright Green is an exciting partner that I’m glad has chosen to make an impact here in our state. We have the talent, workforce and innovative spirit to make this forthcoming new industry a complete success. Investments like this one make me even more optimistic.”