More than 600 new jobs in Richmond Valley will be created due to the Northern Rivers Livestock Exchange facelift and the Solaris Nutraceuticals construction.
The new Solaris Nutraceuticals facility will be based in Casino, Regional NSW and will be Australia's largest growing, manufacturing, processing and research facility. It will also be the largest medicinal cannabis facility in the southern hemisphere.
The state-of-the-art custom built KUBO Ultra-Clima greenhouse operation will be spread across 10.2 hectares and will have the capacity to support annual production of 100,000 kilograms of high-quality medicinal cannabis. This equates to an annual revenue potential of between $800 million and $1.1 billion.
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The environmentally-friendly and sun-grown cannabis will be used for the treatment of inflammation, anxiety, female reproductive issues, and neuropathic and chronic pain.
Solaris Nutraceuticals received a $2.5 million Regional Jobs Investment Program grant through the Federal Department of Innovation, Industry and Science which will help create around 300 direct new jobs and 100 indirect jobs.
On the ground, works for this innovative project are expected to commence by the end of this year, with first crops planted during 2019.
Another win for Richmond Valley will see Northern Rivers Livestock Exchange get a $14 million facelift and more than 200 new jobs created.
The upgrade will deliver a $50 million boost to the local economy and will ensure Richmond Valley remains the beef capital of Australia.
The project will modernise the Livestock Exchange improving animal welfare, environmental management, workplace health and safety, and increase cattle capacity by 40%.
NSW Premier Gladys Berejiklian said, “This is a major piece of local infrastructure which is vital to supporting the beef industry in Northern NSW.
"The industry is already one of the largest employers in the region and this investment from the NSW Government will ensure it continues to grow and prosper."
Richmond Valley Council recently launched their economic development video with their vision about protecting the way of life but opening doors for new ideas and opportunities.