A Kentucky hemp producer and manufacturer says a new manufacturing facility is on track regardless of financing snags that have held up building.
Winchester-primarily based GenCanna International is developing a new processing facility in Mayfield, a town of about 10,000 folks in Western Kentucky.
Creating contractors have reportedly filed 19 liens on the house, saying GenCanna owed them far more than $13 million. The liens have been filed with the Graves County Clerk’s workplace from Sept. six by means of Oct. 1, The Mayfield Messenger reported.
GenCanna President Steve Bevan stated the business is operating to repair challenges with its lender, adding that the contractors would be paid just before the matter is taken to court.
“We’re all excited about a speedy resolution right here,” Bevan told Paducah Television station WPSD.
He added that GenCanna’s farmers are bringing its contracted 2019 hemp crop to other processing facilities in Kentucky. He stated he expects the new Mayfield plant will be open in time for the 2020 harvest.
Financing has continued to plague hemp companies, regardless of the crop’s federal legalization below the 2018 Farm Bill and continued efforts by lawmakers to encourage federal banking institutions to open their solutions to the market.
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