Partnering with the Town of Warwick, local legislators, agricultural consultants, farms and business owners, The Accelerator and Orange County IDA developed a cannabidiol (CBD) based cluster. The demand for CBD for medical and wellness purposes is high due to its healing properties, which is the key factor driving the growth of the market. Moreover, growing product adoption and utilization owing to government approvals is a major factor anticipated to drive the demand for cannabidiol infused products.
Out of all cannabinoids, cannabidiol is most commonly used for medical purposes due to the absence of psychoactive effects. Cannabidiol is one of the main cannabinoids extracted from the hemp or from marijuana, which is primarily found in the Cannabis Sativa plant. CBD oil is used in several medical applications such as treatment of anxiety and depression, stress relief, diabetes prevention, mitigation of pain, alleviation of cancer symptoms, and acne reduction. The global CBD market is anticipated to grow at a lucrative rate over the forecast period owing to the growing adoption of CBD-based products for treating various medical conditions.
The Warwick Facility
The CBD Campus, an abandoned Warwick State prison, launched in 2020. It houses a CBD oil refinery facility and PODS for companies manufacturing CBD products and will redevelop and repurpose the former prison campus. This cluster includes companies in many stages of the supply chain. The former prison site — a 726-acre property, half of which is wetlands — was bought by the town about five years ago and was not being utilized. This cluster has allowed a fraction of the large commuter population to work locally. It also has incorporated a cluster that benefits the town’s agricultural industry, which is a staple amongst Warwick due to the black dirt in that region. This cluster will also utilize the Middletown facility due to a partnership with Touro College of Osteopathic Medicine, as Touro will work as the R&D components of this initiative, and The Center for Discovery (located in Sullivan County). The food and medical-grade cleanroom will also be used for R&D.
More can be learned about the history of the facility here.