A new cannabis production facility was recently approved in Israel. It is incredibly unique as a full-service facility, which suggests a bright future for the nation that thrives on cannabis exports.
The Yeruham-based facility, known as Covation Center Ltd., was officially given the green light by the Ministry of Economy and Industry.
“The establishment of the cannabis factory in the city of Yeruham is another step in the direction I set for the development of the country’s periphery, regarding advanced production factories and developing sectors,” said Economy and Industry Minister Amir Peretz in an official statement to The Jerusalem Post. “We in the ministry will continue to support the production of new jobs for residents of Israel’s periphery.” The factory is expected to take on 50 new employees, with an estimated $1 million in Israeli new shekels (approximately $314,000 in USD).
Much more multifaceted than most factories, the cannabis complex will include a production area, research and development laboratories, a production plant for nutritional substances and a quality assurance section. It will also cover all facets of the product cycle, including handling storage, packaging and distribution.
Israel officials are coming ever closer to full recreational legalization. Last year, the Israeli Knesset legislature put off voting on a bill that would have legalized recreational cannabis, if passed. However, in the meantime the country is soaring as one of the world’s most prominent medical cannabis export countries. Last month, the Israeli-based company Panaxia became the first company to be able to legally export cannabis to Germany, starting on December 25, 2020. The country’s officials also recently made a bold move on January 5, 2021 when the Israel Defense Force announced that officers would not be charged if they use cannabis while on leave.
There are high hopes that the new year will certainly see more cannabis exports as Israel moves closer to cannabis legalization.