Hemp production facility part of China-based company's $10M investment in Franklin County
A China-based hemp company is setting up shop in central North Carolina.
Q-Power produces things like oils and protein powders. The company said its operation is not about CBD or THC.
Within the next month or so, Q-Power expects to have plenty of machines at its Franklin County facility up and running. They’ll be automated, run by computers. First, they’ll start off with producing hemp seed, then hemp seed oil and hemp powders.
The company is initially investing about $10 million into this project for phase one. They’re expecting to hire about 20 to 30 people for this facility.
Many of Q-Power’s staff members traveled in from China to see the site. Staffer Haipeng Xu translated for Franklin County leaders as the chairwoman gave WRAL News a tour.
"We have imported some product from China already," said chairwoman Zhiyi Zhang through an interpreter. "So, we have set up a good relationship around the U.S. We can expand this after we set up this factory."
Different from the CBD and THC markets, industrial hemp production a booming industry. That’s due in large part to its high protein and health benefits. Hemp can be used as an ingredient in foods, like protein bars, and it's totally legal.
"Having a company that's going to bring other alternatives and options for the consumer is a good thing," said Franklin County economic development director Barbara Fiedor.
The industrial hemp market was estimated to be worth nearly $5 billion in 2022. By 2030, that number is expected to jump to more than $16 billion. Right now, Asian Pacific companies are leading the market. Q-Power leaders say they see opportunity in the U.S., particularly in Franklin County.
The owners are already looking to the future.
"We will expand our products and, probably, this factory will not be sufficient," Zhang said. "That will be our next phase to expand to buy a new, bigger factory."
"Companies, particularly foreign ones, discover the unique qualities of our community," Fiedor said.
Fiedor said she hopes this investment will lead to more in the future from Q-Power and others.
Zhang said the project started in 2018 and was delayed by the COVID-19 pandemic.
“I am excited about Q-power opening its operations here in the County,” said Franklin County Manager Kim Denton in a news release. “Franklin County continues to grow and is well positioned for companies like Q-power to thrive.”
The plant’s annual goal for the Louisburg location is 1,000 tons of hemp seed, oil, and protein.
