Founder's Hemp approved for expansion grant
November 4, 2019
ASHEBORO — Founder’s Hemp of Asheboro has been approved for a grant to assist in expansion plans, according to a press release from the Randolph County Economic Development Corporation.
On Oct. 17, the City of Asheboro was awarded a $150,000 NC Commerce Building Reuse Grant by the North Carolina Rural Infrastructure Authority. The grant will assist Asheboro-based Founder’s Hemp with the installation of five new clean rooms in existing warehousing space. Total investment in the project, including the grant, is projected to be $430,700.
The project is necessitated by growing demand for Founder’s Hemp product. The new clean rooms will enhance the company’s capacity to process hemp to supplement grade standards and will leverage the creation of at least 15 new manufacturing and packaging jobs by Founder’s Hemp. The company will retain 62 existing full-time positions in Asheboro.
“We are truly grateful to the City of Asheboro, the county and the EDC for this grant and are honored to be one of the first hemp companies in North Carolina to receive this type of grant,” said Bob Crumley, founder and CEO of Founder’s Hemp. “Founder’s Hemp has been operating in Asheboro since 2017 and is proud to be a member of this thriving business community. Asheboro was the first city in the State of North Carolina to support us in building our hemp processing facility and we look forward to expanding our company and creating more jobs as the hemp industry continues to grow.”
“The City of Asheboro is excited that Founder’s Hemp is adding 15 quality new jobs to the local economy,” Asheboro Mayor David Smith said. “Randolph County’s story is a story of agriculture, so it’s fitting that Founder’s Hemp is growing a transformational business here in Asheboro based on hemp, a historically significant crop. We are particularly excited about the related high-tech jobs in the biosciences that Founder’s Hemp is bringing to the community.”
Founder’s Hemp is a vertically integrated hemp company. From clone to final product, Founder’s Hemp is the leading provider of premium hemp extracts, products and services. The company provides expert assistance to its network of farmers on everything from seed/clone selection to harvesting methods, and processes North Carolina-grown hemp into products for others to enjoy and consume.
In addition to processing its own hemp into usable products, the company also contracts extraction services. The company has retail locations that offer high-quality product, fiber, food and more. In June 2019, Innovative AgriProducts, the extraction division of Founder’s Hemp, became the only North Carolina hemp processing facility to be GMP certified.