A Colorado company is jumping into the growing business of industrial hemp as one of Indiana’s first processors of cannabidiol or CBD.
PHM Brands LLC of Denver plans to establish an industrial hemp processing plant in Michigan City, according to a statement from Economic Development Corp. Michigan City, Ind. The company received an industrial hemp research license in February, making it one of a few Hoosier companies legally allowed to handle hemp in Indiana.
PHM Brands will invest $6 million to set up operations in Michigan City. The company will bring at least 32 jobs, paying an average of $20 per hour.
“Michigan City has become a top location for companies looking for a competitive advantage,” said Michigan City Mayor Ron Meer. “Our location, quality of life and workforce are key assets for a growing business.”
PHM Brands LLC is a food manufacturer, which provides a range of agricultural-based specialty ingredients and blended products in five locations throughout the country. PHM Brands LLC is part of a family of companies, which includes Panhandle Milling, New Mexico Milling, Specialty Grains, Specialty Blends, Specialty Feeds, Hippo Extracts and Viobin.
John Mason, partner at PMH Brands said the company chose Michigan City after reviewing other communities and states.
“The city staff and the EDCMC were very helpful and responded quickly to our needs and concerns,” Mason said. “Michigan City customer service was impeccable and we are looking forward to being part of (the) community.”
