Binghamton, NY—March 6, 2018 – Southern Tier Hemp, a vertically-integrated agri-tech company, has announced that they will establish a brand new processing facility in the Southern Tier Region. The company will process hemp and other agricultural commodities for its own products as well as other cultivars, according to a press release.
The new processing facility will bring together the necessary technology and expertise to process, extract, refine and formulate products, eventually processing hemp from cultivars all across the northeast. Additionally, through Southern Tier Hemp’s research partnership with Binghamton University, they will help forward the clinical body of research on CBD and other cannabinoids derived from hemp. The planned expenditure is the latest in a series of investments to encourage the development of hemp growing and processing in New York.
"As the industry continues to scale, processing can become a bottleneck to growth,” said Southern Tier Hemp Co-Founder and CEO Michael Falcone. “Having a processing facility in New York’s Southern Tier dedicated to solving that will be indispensable for all of us and will give all hemp producers in the region a competitive edge. We are deeply grateful for the leadership of Gov. Andrew M. Cuomo, Department of New York Agriculture and Markets Commissioner Richard A. Ball, State Assemblywoman Donna A. Lupardo and State Sen. Tom O’Mara.”
Southern Tier Hemp has assembled a skilled team of professionals with deep expertise in the hemp industry to build out operations across the company’s entire supply chain. The focus of this team will be to provide high-quality health and wellness products.
“More and more, modern-day research is uncovering the wide-ranging benefits of hemp,” said Falcone. “The findings of physicians and medical professionals researching the plant is very encouraging. We are excited about the social, economic and environmental benefits of hemp and know that New York State is the perfect place to move this industry forward."