The State Government has allocated $2 million for a medicinal cannabis operation in Collie to create long-term local jobs in the rapidly growing medicinal industry.
The investment from the State Government’s Collie Futures Industry Development Fund will support Stage 1 of the Cannaponics Limited operation.
Cannaponics has already purchased 65 hectares of cleared land near Collie for the development of the facility which will include a 1,000sqm greenhouse, laboratory and warehouse.
The Cannaponics facility will be capable of producing 1,000kg of dried cannabis and equivalent extracts per year.
The facility will be Good Manufacturing Practice (GMP) and Therapeutic Goods Administration (TGA) certified to manufacture medical, pharmaceutical and nutraceutical products.
This Stage 1 operation is expected to support 50 local trades jobs over 12 months of construction and create approximately 24 permanent ongoing jobs including professional, technical, production and administration roles.
The project is also expected to generate around $4 million in revenue, with considerable flow-on effects for the Collie community.
Cannaponics has identified a strong growth market which has the potential to open significant opportunities for the South West region and the State.