December 18, 2024 8:09 pm
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Proposed $65M hemp extract facility to employ up to 175 in Phoenix

Hemp seeds were planted last week on this 10,000-acre farm near Yuma that will be used to create hemp-derived CBD products. / Provided by Integrated CBD / Phoenix Business Journal

Disclosure: Rose Law Group represents Integrated CBD LLC

Hemp-derived CBD industry is expected to reach $16 billion nationwide by 2025

By Angela Gonzales | Phoenix Business Journal

Integrated CBD LLC is investing about $65 million to build a 154,000-square-foot manufacturing plant in Phoenix that is expected to employ between 125 and 175 people.

Launched in January, the Scottsdale-based company is a vertically integrated, pharma-grade manufacturer of industrial hemp-derived CBD products, said Jeff Dreyer, co-founder and COO of Integrated CBD.

The hemp-derived CBD industry is expected to reach $16 billion nationwide by 2025.

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