22 Jun 2022
Plans progress to kickstart medicinal cannabis industry with science and innovation centre on the Isle of Man
An emerging industry that will be a catalyst for future economic growth and new skills on the Isle of Man is moving at pace with the submission of plans including a new medicinal cannabis cultivation facility.
Leading regeneration and clean energy specialist Peel NRE has applied for planning consent for its proposals to develop a science innovation and research centre (SIRC), sustainable energy park and a medicinal cannabis cultivation facility at Cooil Road in Braddan on the Isle of Man.
Proposals for the 72-acre site in between the A6 and A5 (New Castletown Road) would create around 250 jobs across a range of skills from botany and technology to security and exports.
More than 178,000 sq ft of cannabis cultivation space will be created with around 102,000 sq ft for research and development.
The scheme would also feature a solar farm to power the site which would be the Island’s only grid-scale renewable project, contributing to the Isle of Man Government’s ambitions on climate change.
The plans follow a recent change in the legislation of cannabis production and exportation on the Isle of Man and represent a potential investment of over £150m by Peel NRE, part of regeneration business Peel L&P.
The development will help establish a global destination on the Island for science and technological excellence capable of developing and retaining home-grown talent that will contribute to cutting-edge research into cannabinoids for pharmaceutical uses.
It will also set a gold standard for the burgeoning cannabis industry across the world and unlock partnerships in the public and private sectors.
Since Peel NRE announced its plans in February, it has received significant support from the community.
Myles Kitcher, Managing Director of Peel NRE, part of Peel L&P, said: “This is a game-changing opportunity for the Isle of Man to get ahead in a new and exciting industry that will bring many benefits to the Island and its people and we also hope that it will encourage more renewable projects in the area.
“As expected, our proposals have attracted a lot of attention and, we are pleased to say, significant support from the community during the extensive public consultation. This includes positivity around the emerging industry on the Island, the proposed campus-style development and new educational and career opportunities.
“We will continue to work with the community over the coming weeks and months as the project progresses and will be holding an industry event later in the year for businesses interested in finding out more about available opportunities.”
Dr Alex Allinson MHK, Minister for Treasury said: “The development of the Island’s medicinal cannabis sector is a key part of the Government’s ambitions to diversify the economy as well as creating a vibrant new sector to attract more investment and skills to the Isle of Man. We are looking to create a world-class infrastructure and continue to welcome interest in developing this sector further.”
More about Peel NRE.