Denver-based PHM Brands LLC has announced plans for a Michigan City facility that will produce cannabidiol, or CBD. Our partners at The Times of Northwest Indiana report the industrial hemp processor will create more than 50 jobs over the next five years.

Jenilee Haynes Peterson, economic development manager for Economic Development Corp. Michigan City tells the publication PHM Brands had previously acquired the Prinova wheat germ plant in the LaPorte County city, however low demand and sales led to the decision to convert the facility for industrial hemp processing and CBD production.

The existing Prinova employees will be retained and the company plans to add 32 workers as part of the project's $6 million first phase. Haynes Peterson says the company looks to add another 20 workers in the second phase.

"Michigan City was an easy choice for us after we had an opportunity to look at surrounding states and communities," PHM Brands partner John Mason told The Times. "The city staff and the EDCMC were very helpful and responded quickly to our needs and concerns. Michigan City customer service was impeccable and we are looking forward to being part of your community."

PHM Brands received an industrial hemp research license in February. The company is one of only a few in Indiana that has one.

You can read more from The Times of Northwest Indiana by clicking here.