Adobe Stock
Canopy Growth Corp. will spend as much as $150 million to build its first production facility in the U.S. after the Canadian cannabis company was granted a hemp license by New York state.
The U.S. farm bill legalized hemp and hemp-derived cannabidiol last month, creating a rush among Canadian pot firms that were previously unable to enter the U.S. market. Canopy said Monday it’s been granted a license by New York to process and produce hemp and plans to establish a hemp industrial park in the state focused on extraction and product manufacturing.
