6/18/20 Blue Ribbon Extraction to Establish Hemp Processing and CBD Oil Extraction Facility

Virginia Tobacco Region Revitalization Commission
Blue Ribbon Extraction to Establish Hemp Processing and CBD Oil Extraction Facility

Governor Northam announced today that BRD Extraction, LLC, doing business as Blue Ribbon Extraction, will establish a hemp processing and CBD oil extraction operation in the Town of South Boston. The project is expected to create 41 new jobs and includes $3.26 million in capital investment. The Tobacco Commission is supporting this project with a $250,000 Agribusiness grant.

Secretary of Agriculture and Forestry, Bettina Ring said, “There has been tremendous growth in Virginia’s industrial hemp industry, creating new opportunities for rural communities to thrive. By locating this large processing facility in an emerging geographic center of industrial hemp production, Blue Ribbon Extraction will create a local market for the crop, addressing one of the biggest challenges currently facing the industrial hemp industry in Virginia.”

Secretary of Commerce and Trade, Brian Ball added, “We are proud to welcome Blue Ribbon Extraction to Halifax County and the Commonwealth. The hemp industry represents exciting opportunities for Virginia farmers, and I am confident Southern Virginia will provide a topnotch workforce for the hemp industry to grow and succeed.”

Tobacco Commission member, Ed Owens said, “I’m very pleased to see this project get underway so that Southern Virginia is prepared to take advantage of all the opportunities this emerging industry will create. The industrial hemp industry has the potential to create many jobs and increased income for our farmers in the coming years and I look forward to seeing this facility up and running.”

Hemp is a crop with many uses including rope and textiles, insulation and building materials as well as food and medicinal products. In just the last few years the market for CBD oil, a hemp extract, has grown immensely and this facility will allow growers in Southern Virginia to take advantage of this lucrative and growing market. Blue Ribbon Extraction expects to be able to process 5,000 pounds of industrial hemp per day and has committed to buying 90 percent of their hemp from Virginia farmers resulting in an over $71 million dollar boost to Virginia’s agricultural economy.

Chairman of the Halifax County Board of Supervisors, Hubert Pannell said, “This is a great day for Halifax County, the growth of the hemp industry in our region is just beginning. The county’s early participation to help implement and sponsor the Industrial Hemp Summit has paid off with the location of Blue Ribbon Extraction in our wonderful county. We are very excited to welcome these community partners to Halifax and look forward to their many successes in the industry. I also want to take this opportunity to thank the IDA of Halifax County for their never ending efforts to secure this project.”

Blue Ribbon Extraction Co-Chief Executive Officers, Sterling Edmunds, Jr. and Rick Gregory added, “We look forward to partnering with farmers to establish a local market for a new agricultural crop right here at home in Halifax County. We currently have 1.2 million pounds of hemp under contract with farmers for the 2020 growing season. With the support of the Halifax County Board of Supervisors, the County Administrator, the Halifax County IDA, and the South Boston IDA, Blue Ribbon is off to a great start. Approximately $10 million primarily raised from private sources will be invested in bringing this project to reality for southern Virginia.”

The Tobacco Commission is committed to developing a diverse economy in the regions we serve. Supporting advancements in Virginia’s agricultural sector has long been a top priority for the Commission and this project continues that work work by allowing Virginia farmers to take advantage of a rapidly expanding new market.

Contact: Jordan Butler
Telephone: 804-786-7692
Cell: 757-692-0878
Email: jbutler@revitalizeva.org
Website: www.revitalizeva.org