The former D & W Finepack building in Cadiz will house an industrial hemp manufacturing company. Vertical Company announced Thursday they will be making a five million dollar investment to open an industrial hemp processing facility in the building that is located at 134 Roger Thomas Road in Cadiz.
According to information from Vertical, the facility is part of the initial investment to cultivate, extract and manufacture a wide-range of Hemp-based Cannabidiol or CBD products. At full capacity, the facility will employ more than 100 Kentuckians. The company also says they are proud to partner with Kentucky Farmer Joe Kelly in the venture.
Vertical President Smoke Wallin, Chief Operating Officer Drew Milburn and Bramer Group Founder Donald Bramer will be speaking at a special ceremony Friday, October 26. They will be joined by First District Congressman James Comer and other officials.
Vertical says the company aims to replicate its proven and effective supply chain methodology as it continues to become an industry leader nationwide. Vertical’s team has a proven record in large-scale brand creation and national rollouts to both hospitality and national retailers.
The company adds momentum has been building since The Industrial Hemp Farming Act, that was first introduced in the 109th Congress, sought to amend the controlled substance act by removing industrial hemp’s classification as a Schedule I substance. With the introduction of expanded versions of the legislation in the 115th Congress, by Senate Majority Leader Mitch McConnell, much of the provisions were included in the Senate version of the 2018 Farm Bill.
Reports to the News Edge indicate the company is already taking shipments of industrial hemp at the former D & W Finepack building. More details are expected to be released during the formal announcement October 26.
Cadiz EDC Director Sharon Butts says the Cadiz EDC and Southwest Kentucky EDC assisted on the search for a site facility for the new company. Although they did not know who the company was, they knew the client was dealing with Hemp processing. Butts says the EDC suggested the D & W Finepack building to them as a possibility.