Governor Michelle Lujan Grisham was joined by state and local officials today to announce Rich Global Hemp Corporation (RGH) will refurbish the 750,000sf greenhouse formerly occupied by New Mexico Greenhouse Holdings to grow immature hemp plants that can be provided to farmers.
The business plans to ramp up employment to about 180 jobs with an average salary of $43,000. There is also a strong research component to the business for genetic research and seed certification.
The New Mexico Economic Development Department has committed a $1.25 million LEDA grant, as well as an estimated $1.4 million in job-training wage reimbursements through JTIP.
After a multi-state search, RGH concluded that New Mexico had several advantages over other states for a hemp operation. “We believe that New Mexico, and in particular the Borderplex region, is well positioned to become a leader in North America’s rapidly-emerging industrial hemp industry,” said Josh Rich, Founder and Chairman/CEO of RGH. “It has a very favorable growing environment for farmers, leading-edge agriculture research capabilities at New Mexico State University, global value-added product manufacturing in the Borderplex, and biomass processing scalability and global distribution in Santa Teresa.”
Davin Lopez, president and CEO of the Mesilla Valley Economic Development Alliance (MVEDA), said Rich Global Hemp is at the forefront of hemp production and has unique expertise. He welcomes the company’s collaboration with New Mexico State University.
“Combined with NMSU’s expertise in agricultural sciences along with our rich agricultural heritage, Doña Ana County is uniquely positioned to grow a vertically integrated industry cluster that will provide new career opportunities for our students,” he said.
New Mexico State University Chancellor Dan Arvizu said the business is an example of “placed-based economic development that takes full advantage of our unique local agricultural base and leverages it with a new crop.”
Arvizu added that NMSU and its partners stand ready to work with other companies and entrepreneurs to grow local industry across the state.
Governor Michelle Lujan Grisham signed a bill that establishes a state regulatory framework for an emerging hemp industry. Oversight responsibilities are spread across the New Mexico departments of agriculture, health and environment.
The legislation aims to help farmers and manufacturers comply with federal and state laws as they develop products such as textiles and CBD. State authorities finalized hemp rules proposed by the New Mexico Department of Agriculture in December.
The new hemp law will go into effect in July.
Posted May 20, 2019.
