Australia: Canopy establishes Asia-Pacific headquarters in Victoria
Thanks to support from the Andrews Labor Government, Canopy Growth Corporate, through its wholly owned subsidiary Spectrum Cannabis Australia, will invest up to $16 million in Victoria to establish the centre.
The new cultivation and production facility will enable the production of high quality medicinal cannabis for domestic and international patients as market opportunities arise.
By exporting its products from Victoria, Spectrum will create hundreds of new jobs across the supply chain and position the state as the southern hemisphere’s export hub for medicinal cannabis.
Hosting the company’s Research and Development Centre in Victoria will further strengthen the research collaboration currently underway between Canopy and Agriculture Victoria and delivering results in the cultivation and production of medicinal cannabis.
The Labor Government Medical Cannabis Industry Development Strategy sets out a plan to grow Victoria’s emerging medicinal cannabis industry into an established sector.
The strategy aims to have Victoria supplying half of Australia’s medicinal cannabis by 2028, along with the creation of 500 jobs in Victoria.
Victoria was the first state in Australia to legalise access to medicinal cannabis for patients in exceptional circumstances in 2016.
Minister for Agriculture Jaala Pulford commented: “We were the first state to legalise medicinal cannabis and now we’re continuing to lead the way and cement our position as the medicinal cannabis hub of the Southern Hemisphere.”
“We’re proud to be part of this ground-breaking industry that will not only change and save lives, but create hundreds of local jobs.”
Canopy Growth Corporation CEO Bruce Linton added: “Supporting the creation of a domestic industry capable of supplying products grown and processed in Australia will further improve patient outcomes and create economic stimulus through job creation and infrastructure investment in the process.”
Spectrum Australia Managing Director Ben Quirin: “Our goal is to act quickly and establish a market presence here in Victoria. Spectrum genetics are growing healthily here in the country and we are well on our way to identifying suitable locations for a hi-tech greenhouse and processing facility to produce them at scale.”