Yeruham is set to become, without a doubt, the future capital of cannabis in Israel. Cannabis instead of cosmetic products: the government will assist entrepreneurs in creating greenhouses for the cultivation of medical cannabis and manufacturing plants in Yeruham. Among the benefits are job grants.
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The government will help Yeruham become the capital of cannabis in Israel
Last Thursday, a government committee led by the Minister of Agriculture, Uri Ariel, decided to create a new economic hub. With the participation of the director of the Medical Cannabis Authority at the Ministry of Health, Yuval Landstaff, as well as representatives from the Ministries of Finance and Economy and the Volcani Institute. In order to promote the transformation of Yeruham into a center for cannabis cultivation and processing. Entrepreneurs will benefit from government assistance. Indeed, Yeruham is located in the national priority area ‘A’, allowing them to establish an industrial activity with considerable advantages.
Conference on “Cannabis Yeruham”
Next month (July 7), the “Cannabis Yeruham” conference will take place in Yeruham, and representatives from six major companies and investment funds will arrive. The conference will present, among other things, the benefits they will receive from the state as entrepreneurs: 30% return on investment under the Investment Encouragement Law, 7.5% corporate tax, up to $40,000 per new employee, and an option in the growth areas of the region.
Tal Ohana, mayor of Yeruham, told Mammon that his model was the small town of Smiths Falls in the Montague district of Canada. It operates the large factory of the Hershey chocolatier. Since then, it has moved to Mexico to save on labor costs. The relocation nearly knocked the small town, which has about 9,000 residents, off its feet.
A small medical marijuana business, which employed a small number of workers, moved into the abandoned building. The company, known as Knopi, has experienced rapid growth and is now trading on the Canadian Stock Exchange for a value of $5 billion. It employs hundreds of workers. It is thus known as the Cannabis Queen of Canada.
The invitation to the conference indicated that Yeruham had a project for 5,000 dunams of greenhouses for agriculture, which could be immediately allocated to cannabis cultivation.
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Cannabis instead of cosmetics
Companies that have the highest potential for production and employment will be invited to operate in the main building that will be constructed in the area of the Emilia Cosmetics factory, which has recently closed due to economic bankruptcy. Additionally, the possibility of establishing a unique cannabis packaging plant in Yeruham, which will employ 100 people, is under consideration. The goal is to create a “complete ecosystem for the cannabis sector – packaging, logistics, and other services.”
