Colorado-based PHM Brands, which specializes in agricultural-based ingredients and blended products, is venturing into industrial hemp, starting with a CBD factory in Indiana.
PHM purchased a Prinova wheat germ plant in Michigan City, Indiana, but found that demand and sales for that product were short.
The company opted to instead convert the factory for industrial hemp processing and CBD production, according to the Michigan City Economic Development Corp.
PHM Brands secured an industrial hemp license in Indiana in February.
The firm is part of a family of companies that includes specialty grains, milling, feeds and extracts manufacturing in five locations across the United States.
PHM said it will spend $6 million in the project’s first phase and create 32 more manufacturing jobs.
It plans to keep the current Prinova employees in place and fill another 20 jobs within five years as it expands.
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