The world's leading medicinal cannabis company is set to establish a $16 million centre in Victoria.
Canopy Growth Corporation will base its Asia-Pacific headquarters in the state, producing high quality medicinal cannabis, creating hundreds of new jobs.
"We were the first state to legalise medicinal cannabis and now we're continuing to lead the way and cement our position as the medicinal cannabis hub of the southern hemisphere," Agriculture Minister Jaala Pulford said on Tuesday.
With support from the state government, Canopy through its wholly-owned subsidiary Spectrum Cannabis Australia, will invest up to $16 million over four years in Victoria for the centre, which will produce medicinal cannabis for domestic and international markets.
The Labor government wants to grow Victoria's emerging medicinal cannabis industry into an established sector, with the state supplying supplying half of Australia's medicinal cannabis by 2028.
It also aims to create 500 jobs in Victoria.