A Kentucky hemp producer and producer says a brand new manufacturing facility is on monitor regardless of financing snags which have held up development.
Winchester-based GenCanna International is constructing a brand new processing facility in Mayfield, a city of about 10,000 folks in Western Kentucky.
Constructing contractors have reportedly filed 19 liens on the property, saying GenCanna owed them greater than $13 million. The liens had been filed with the Graves County Clerk’s workplace from Sept. 6 by means of Oct. 1, The Mayfield Messenger reported.
GenCanna President Steve Bevan stated the corporate is working to repair points with its lender, including that the contractors could be paid earlier than the matter is taken to courtroom.
“We’re all excited a couple of fast decision right here,” Bevan instructed Paducah TV station WPSD.
He added that GenCanna’s farmers are bringing its contracted 2019 hemp crop to different processing amenities in Kentucky. He stated he expects the brand new Mayfield plant might be open in time for the 2020 harvest.
Financing has continued to plague hemp companies, regardless of the crop’s federal legalization beneath the 2018 Farm Invoice and continued efforts by lawmakers to encourage federal banking establishments to open their companies to the business.
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