Magnolia Botanicals, a joint venture between S.C.-based Blue Water Green Bridge LLC and United Cannabis Corp., plans to establish an industrial hemp processing plant in Dorchester County.
The 25,000-square-foot facility will be located at Pine Hill Business Campus in Ridgeville. Magnolia Botanicals will provide hemp extraction services for farmers working under the 2018 U.S. Farm Bill and the S.C. Department of Agriculture’s industrial hemp pilot program.
The company will also conduct research into the cultivation, propagation and selective breeding of industrial hemp and will operate laboratories for the testing and certification of industrial hemp and its products.
“Establishing a state-of-the-art processing facility in Dorchester County gives us a competitive advantage in this emerging market,” Blue Water Green Bridge CEO Richard Mudd said in a news release. “We are proud to call the Lowcountry home.”
Magnolia Botanicals is investing $3.2 million in the processing plant. The S.C. Department of Commerce said in the release that the company will create 52 new jobs, and operations are expected to begin in the first quarter of 2020.
The Coordinating Council for Economic Development has approved job development credits related to the project.
“We are pleased to welcome Magnolia Botanicals to Dorchester County and look forward to its continued success,” Charleston Regional Development Alliance board Chairman John Hagerty in the release. “This was a seamless effort among several partners, and this company at the intersection of biotechnology, agribusiness and manufacturing will be an invaluable addition to our region’s growing economy.”