New Mexico funnels economic development dollars to hemp farm

New Mexico

LAS CRUCES, N.M. (AP) — The state is funneling more economic development dollars to the hemp industry, as another business plans to expand its operations in southern New Mexico.

The Economic Development Department said Friday it has committed $600,000 in local economic development funding to Natural ReLeaf.

That will be matched by more than $5 million in private investment.

The company began growing hemp last year and is ready to expand its manufacturing capacity and add more greenhouses that would be capable of growing the crop year-round.

State officials say Natural ReLeaf is expected to create 56 jobs over the next two to three years.

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