The federal government has granted Major Project Status to three medicinal cannabis facilities that are expected to create thousands of jobs in Victoria and South Australia.
The three projects are being developed by South Australian biotech company LeafCann and Victoria’s PhytoGro and Cannatrek.
LeafCann is building a state-of-the-art cultivation and production facility in Adelaide that will produce high quality, pharmaceutical grade medicinal cannabis ingredients and medicines.
Once fully operational, the facility is expected to generate more than 1400 jobs, in addition to 850 during development.
PhytoGro’s $140 million medicinal cannabis cultivation and medical device manufacturing facility in Melbourne’s inner west is expected to create around 300 new ongoing jobs, while Cannatrek’s $160 million medicinal cannabis cultivation and manufacturing facility in Victoria’s Goulburn Valley region is expected to generate a further 400 full time positions.
In making the announcement, Minister for Industry, Science and Technology Karen Andrews said the three projects with a combined value of $650 million would help Australia continue to develop its medicinal cannabis industry.
“When you combine our world-renowned agriculture sector, with our trusted reputation for medical products, Australia is in a unique position to dominate the global medicinal cannabis industry,” Minister Andrews said.
“The Morrison Government is committed to making it as easy as possible for businesses to maximise those opportunities because we know these projects equal Aussies jobs.
“Each of these projects will also drive economic growth, including in regional areas.”
Image credit: LeafCann Medical Cannabis