Toowoomba’s future as a major global player in the medicinal cannabis industry is a step closer, following the announcement by the Morrison Government today that from next month it will prioritise licences for medicinal cannabis projects that have been granted Major Project Status.
Federal Member for Groom John McVeigh said the $450 million medicinal cannabis proposal at Wellcamp was granted Major Project Status earlier this year, reflecting its likely impact on exports, jobs and industry development.
“Under today’s announcement from the Minister for Health, applicants with Major Project Status will be given priority to medicinal cannabis licences through the Office of Drug Control.
“This is great news for the medicinal cannabis industry, in particular the Asterion project in Toowoomba.
“The support of Government to help streamline processes and facilitate projects that will pioneer the development of the medicinal cannabis industry in Australia is an exciting step forward.”
Dr McVeigh said Toowoomba has the perfect mix of climate, transport and logistics support, and research and development capacity to support the Asterion medicinal cannabis project.
“This significant project is expected to create 800 full time jobs and 300 part time, including jobs for scientists undertaking advanced research in both medicine and horticulture,” Dr McVeigh said.
“I have been very pleased to work with representatives of Asterion to help advocate for this important project and reiterate the significance of this development for or region and for rural Australia,” he said.
Asterion CEO and Chair Stephen Van Deventer said the new arrangements would help progress the medicinal cannabis industry in Australia and see large-scale investment get underway.
“It is a great step forward and I am very pleased that the Commonwealth Government has acknowledged the importance of the Asterion project to the Australian economy.
“This significant project will help generate $1 billion in exports of medicinal cannabis around the world, as well as support new jobs and opportunities in regional Australia,” he said.