The world’s largest medicinal cannabis company Canopy Growth Corporation, through its wholly owned subsidiary, Spectrum Cannabis Australia, will invest $16million to establish its Asia-Pacific headquarters, research and development centre in Victoria, creating more than 200 jobs
The new cultivation and production facility will enable the production of high quality medicinal cannabis for domestic and international patients as market opportunities arise positioning Victoria as the southern hemisphere’s export hub for medicinal cannabis.
The company’s research and development centre in Victoria will further strengthen collaboration between Canopy and Agriculture Victoria to deliver world class results in the cultivation and production of medicinal cannabis.
The Victorian government’s Medical Cannabis Industry Development Strategy sets out a plan to grow Victoria’s emerging medicinal cannabis industry into an established sector and aims to have Victoria supplying half of Australia’s medicinal cannabis by 2028, along with the creation of 500 jobs in Victoria. Attracting the world’s largest firm to set up operations right here in Victoria is a major step towards that goal.
Victoria was the first state in Australia to legalise access to medicinal cannabis for patients in exceptional circumstances in 2016.
Canopy Growth Corporation CEO Bruce Linton says
“Supporting the creation of a domestic industry capable of supplying products grown and processed in Australia will further improve patient outcomes and create economic stimulus through job creation and infrastructure investment in the process.”