Financial news

Vacuum cleaner factory to become hemp processing hub

By  | 

Via AP Business

KIRKWOOD, N.Y. (AP) — A vacuum cleaner factory will be transformed into an industrial hemp processing plant in upstate New York.

Canadian cannabis business giant Canopy Growth announced Monday it has selected a former Shop Vac factory in Kirkwood for its Binghamton-area operations.

Sen. Charles Schumer says the move will spur growth of a major new agricultural industry in the region.

Another company, Southern Tier Hemp, is locating in nearby Johnson City.

Last month, Canopy announced it has bought Pennsylvania-based hemp company AgriNextUSA as part of its plan to expand in the U.S.

Canopy CEO Bruce Linton says the company wants to prioritize local vendors and create meaningful career opportunities for the communities where it operates.

The Ontario-based corporation is the world’s largest cannabis company with a market capitalization of $15.7 billion.

Print Friendly, PDF & Email

Hold dit netværk orienteret

READ ALSO  The economics of neutrality in World War II