You are here

Home 🌿 Marijuana Business News 🌿 Hemp-oil plant gets $8 million incentive package from Pueblo council 🌿

Hemp-oil plant gets $8 million incentive package from Pueblo council

Submitted by Marijuana News on Mon, 11/02/2015 - 09:43

Deal will help retool defunct Boeing rocket plant for hemp oil processing

Pueblo's city council on Monday voted 5-1 to extend nearly $8 million in incentives from the city's half-cent economic development sales tax fund to help CBD Biosciences get its hemp-oil processing plant off the ground.

The Pueblo Development Foundation will spend $3 million to rehab a Boeing rocket assembly plant at Pueblo Airport Industrial Park that has been vacant since 2004. CBD Biosciences, apartnership of Denver-based O.penVape and Thar Process Inc., receive $4.89 million to help purchase equipment.

According to the agreement OK'd by the council, the company will create 163 new jobs by 2018 that will pay an average annual salary of $41.590, not including benefits.

According to KRDO TV, 

...
READ MORE: 
Denver Post
Rate this article: 
Region: 
Colorado
United States

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.