$40M investment in New Brunswick to create jobs in province's cannabis sector
New Brunswick is getting an economic boost with new investment from Canopy Growth that's expected to create over 130 new jobs
Some 136 local jobs are expected to be created in New Brunswick over the next six years with the announcement of a $40 million investment by Canopy Growth Corporation into its new cannabis production facility in Fredericton, N.B.
The new investment will "ensure the supply needs of New Brunswickers and Canadians are met when legalization comes into effect on Oct. 17, 2018," a statement from Canopy Growth said.
Operating under the Canopy Growth's Tweed brand, the facility will support the company's global operations with high-quality, large-scale cannabis production capabilities to serve medical and adult-use customers.
"New Brunswick has a world-class cannabis ecosystem and a skilled workforce. It was an easy decision for us to locate here," said Bruce Linton, chairman and CEO. "New Brunswick has approached the cannabis sector head-on as an opportunity to create economic benefit. We are proud to call New Brunswick home and look forward to building our team here as the facility is completed and brought online."
Canopy Growth's new facility will be seeking to fill a diverse array of roles, including lab supervisors, technologists, growers, post-harvest crews, quality assurance experts, as well as maintenance crews, shipping and on-site retail staff.
The company is eligible, subject to certain conditions, for an investment of up to $1.3 million from Opportunities NB (ONB), a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs in the province.
It is estimated by the ONB that creating up to 136 new jobs would produce provincial income tax revenue of $6.5 million and contribute $61.2 million in direct GDP for the province over a six-year period.
"Your government is committed to pursuing the significant economic opportunities within the cannabis sector and to ensuring the legalization of cannabis is introduced in a responsible way," said New Brunswick Premier Brian Gallant. "When world leading companies like Canopy Growth choose to invest in New Brunswick because of our skilled workforce, it reinforces that our multi-year economic growth plan is working."
ONB is projecting the creation of up to 3,000 new cannabis jobs in the province by the end of 2022.
In partnerships with MADD Canada, the Canadian AIDS Society, Parent Action on Drugs, the University of British Columbia, and a commitment to contribute funds from all online cannabis oil sales to education, Canopy Growth partnered with the New Brunswick Liquor Corporation to roll out a retail training program intended to educate and prepare Cannabis NB retail staff.
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