Glass Property Farms of Carpinteria, California, stated it designed a joint venture with water developer Cadiz Inc. to develop 60 acres of hemp beginning subsequent month in the town of Cadiz in rural San Bernardino County.
The joint venture will be known as SoCal Hemp Co.
Cadiz and Glass Property Farms stated the venture will be a 50-50 split but supplied no other monetary specifics.
The corporations stated the Cadiz hemp farm could expand to 9,600 acres.
Glass Property Farms at present grows marijuana in Santa Barbara County, exactly where it is also preparing an extraction lab and retail shop.
Cadiz Inc., which owns 70 square miles of land, performs with public water agencies.
The organization trades on the Nasdaq as CDZI.
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