A new company plans to open a hemp manufacturing and processing facility in Gonzales, according to advance notices submitted to Louisiana Economic Development.
Borne Technologies, which just registered its trade name with the Secretary of State’s office earlier this month, plans to build a roughly 3,500-square-foot facility to process and extract cannabinoid oils from hemp plants. The site will employ five people, whose payroll total is estimated at $225,200.
The company has indicated it will file for the state’s Industrial Tax Exemption Program and Quality Jobs Program, which provides cash rebates to companies that create jobs and promote economic development. The Quality Jobs Program was recently questioned by the Louisiana Legislative Auditor on its effectiveness at creating jobs.
The application states the project will be on W. Eastbank Street, off Burnside Avenue, in Gonzales.
The total investment for the project is valued at $1.07 million.
The state’s rules and regulations for the Louisiana Industrial Hemp Program were finalized last month, when the state also began issuing licenses for the production, processing and transportation of industrial hemp.
The Gonzales facility is one of several hemp processing facilities in the works for Louisiana. A Colorado-company is moving forward with plans to open a processing facility in Houma, while Wellcana Group, LSU’s licensed medical marijuana grower, has also indicated it plans to build a hemp processing facility between Baton Rouge and Lafayette.