A local medical cannabis farm is about to expand its manufacturing activities and create 30 new local jobs.
The production expansion at the ABC Can site, and remodelling of its facility is expected to cost $1.76 million.
Northern Tablelands MP Adam Marshall joined staff at the site on Wednesday to announce a $600,000 grant towards the expansion, which has been provided through the NSW Regional Job Creation Fund.
"ABC Can is a highly innovative business, cultivating, manufacturing and distributing high quality cannabis-derived medicinal products available across Australia and exported," Mr Marshall said.
He said the company needs to expand operations to meet the expanding demand for cannabis-derived medicinal products.
"I'm impressed with the plans to expand the Good Manufacturing Practices (GMP) in the Armidale facility and look forward to returning once they are complete," he said.
Chief Operating Officer, of ABC Can and its parent company Australian Natural Therapeutics Group (ANTG), James Gaskell, welcomed the funding support.
"The growing demand for medical cannabis products offers significant potential for the NSW and Australian economies to capitalise upon by supporting domestically produced products," Mr Gaskell said.
"The expected economic benefits could be measured by revenue growth and impact on national GDP.
"ANTG's expansion project supports the 20-Year Economic Vision for Regional NSW's core objectives, contributing to growth of regional advanced manufacturing capabilities, driving high productivity and making the Armidale region an appealing alternative to city living.
"Advanced Manufacturing has been identified as a key emerging opportunity for growth in regional NSW, with job creation and affordable energy identified as key drivers of growth.
"This project supports both of these drivers," he said.
With the national and international markets for medical products derived from cannabis quickly increasing, there is a ready market with strong growth potential.
Mr Marshall said this is another example of an innovative local manufacturing business success story.
"I'm thrilled this business will continue to grow and expand," he said.
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