SHEPPARTON is set to become home to a $30M medicinal cannabis cultivation and manufacturing facility, which will see approximately 65 new jobs created locally.
Fast-growing start up Cannatrek is expanding its Australian production and manufacturing capacity in Victoria, through a strategic partnership with the listed Canadian company CannTrust, which will provide vital financial management and marketing support.
The plan aims to have Victoria supplying half of Australia’s medicinal cannabis by 2028, along with the creation of 500 jobs in Victoria.
Around 10 roles will also be created at the company’s Australian headquarters at the La Trobe University campus at Bundoora.
Cannatrek is also working towards a research and education partnership with La Trobe University at its Research and Innovation Precinct.
Minister for Agriculture, Jaclyn Symes said, “Victoria is continuing to lead the way as the medicinal cannabis hub of the Southern Hemisphere and we are proud to support Cannatrek’s significant expansion in regional Victoria.
“We’re proud to be actively attracting investment in this ground-breaking industry that will not only improve the lives of patients around the world, but also create local jobs.”
Cannatrek CEO, Tommy Huppert said, “Regional Victoria is blessed with abundant daylight, possessing the ideal climate for growing this valuable medicinal resource. Cannatrek is grateful for the opportunity to pioneer this industry.”
La Trobe University vice-chancellor, Professor John Dewar said, “Recognised as a national leader in the fast-developing field of medicinal agriculture, La Trobe University welcomes support for this emerging company and looks forward to the co-location of Cannatrek within our Research and Innovation Precinct.”
