GRANVILLE, Ill. (WEEK) —
A Michigan company is seeking to create what its calling “the world’s largest indoor premium hemp facility” in Putnam County.
Red White & Bloom (RWB) is acquiring a 3.6 million square foot greenhouse in Granville. The ColorPoint greenhouse has a hemp growing license and hemp processing license from the Illinois Department of Agriculture.
RWB said it plans to produce hemp CBD and CBD-derived and products. RWB started a similar facility in Canada.
The facility currently has 175 full-time employees, and over 400 in the peak season. The Chicago-based Brightfield Group estimates the hemp-CBD market alone could reach $22 billion in profits by 2022.
The Illinois Department of Agriculture began accepting applications for industrial hemp growth and processing on April 30. Six hundred sixty-seven applications to grow hemp have been submitted to the Illinois Department of Agriculture, and 434 have been approved. Eighty-nine processors are also approved.
Illinois is also in the process of legalizing cannabis for recreational usage. The Illinois Senate passed a bill Wednesday that would legalize the possession of up to 30 grams of flower, five grams of concentrate or 500 milligrams of THC in a cannabis-infused product for Illinois residents age 21 and older. Action is expected on the bill in the House this week, and Gov. J.B. Pritzker is expected to sign the legislation.