New Mexico is about to become home to one of the nation’s largest cannabis manufacturing and research facilities.
On Monday, May 24, Governor Michelle Lujan Grisham and Bright Green Corporation (BGC) announced a $300 million investment in a state-of-the-art agricultural facility on company-owned property in Grants, New Mexico.
Modern Production and Research
According to BGC, the new facility will utilize the latest technology and automation to deliver consistency and purity in the production of high-quality cannabis for advancing medical research.
“I couldn’t be more excited about the development of another world-class research facility right here in New Mexico,” says Governor 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.”
Grants-based BGC received approval from the Drug Enforcement Administration (DEA) to produce, store, package, and distribute cannabis for medical research under new regulations and other applicable laws and legal standards.
BGC recently executed a memorandum of agreement with the DEA.
Meeting Requirements to Advance Research
To receive DEA authorization, BGC was required to meet various requirements.
Requirements included documentation proving their customers are licensed to perform research and possession of appropriate state authority.
BGC was also required to incorporate proper safeguards to prevent diversion.
According to BGC Chief Executive Ed Robinson, legal compliance is the crux of the BGC ethos, abiding by all federal, state, and local laws to supply cannabis for federally sanctioned research.
“While much is written about the cannabis market, we believe the true contribution of cannabis lies in its medical applications,” says Robinson. “Our vision is to improve the quality life across a broad demographic group through the opportunities presented by medicinal applications of plant-based therapies, including cannabis derived products.”
Robinson says BGC will produce consistent, pure, high-quality cannabis and extracts to provide safe inventory for cannabis researchers nationwide.
Majority owner and controlling stockholder Lynn Stockwell says BGC and New Mexico will become leaders in the emerging field of medical cannabis research.
BGC estimates it will create more than 170 construction jobs and 200 initial agricultural and research jobs.