THE construction of the first phase of a “green energy” powered medicinal cannabis facility near Shepparton has the potential to create 400 local jobs – with more than 70 new jobs in the initial phase.
Minister for Regional Development, Mary-Anne Thomas, announced before the long weekend that Cannatrek will receive a grant of $700,000 over the next three years from the State Government under the Regional Jobs Fund.
Cannatrek already employ 18 workers at their Melbourne head office, with the development of a multi-million-dollar medicinal cannabis glasshouse development in Greater Shepparton to be their first production facility outside of Queensland. The project could quadruple their annual supply of cannabis to 20 tonnes each year.
Since 2016, Cannatrek has become one of the largest suppliers of medicinal cannabis in Australia, pivoting from imported products to end-to-end local production and digital healthcare services.
Medicinal cannabis is now legal in more than 30 countries and according to The Global Cannabis Report 2019, it is estimated that the global market will be worth $80B by 2024.
While creating new jobs and relying on renewable energy, the project aligns with the Government’s ‘Medicinal Cannabis Industry Development Plan’ to supply half or Australia’s medicinal cannabis by 2028.
Market research company, FreshLeaf Analytics says 100,000 Australians currently use medicinal cannabis sourced from legal markets. There are reported to be up to 1M patients accessing products, including from illegal markets.
