A £150 million medicinal cannabis research and production facility in the UK has been proposed by developer Peel NRE for the Isle of Man. Recently, the legislation changed to permit cannabis to be grown on the island and exported. This was an effort to position the Isle of Man as a leader in the developing medicinal cannabis market. Meanwhile, these proposals for the specialized science innovation and research centre follow this change.
The first phase of the development is covered in detail in Peel NRE’s planning application. Additionally, the phase includes two units for the cultivation facility, an access road, engineering work, and early landscaping. Its plans call for a sustainable energy park with an 11–14 MW solar farm to power the facility.
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The medicinal cannabis research and production facility in the UK is a game-changing opportunity for the Isle of Man
The proposed development is situated at the intersection of Cooil Road and the A5 (New Castletown Road). Therefore, it will assist the Isle of Man in cultivating local talent that will contribute to cutting-edge research into cannabinoids for pharmaceutical uses.
“This is a game-changing chance for the Isle of Man to get ahead in a modern and exciting industry that will deliver many benefits to the Island and its people,” said Myles Kitcher, managing director of Peel NRE, a division of Peel L&P. “We also hope that it will inspire more renewable schemes in the area.”
“The development of the Island’s medicinal cannabis sector is so crucial. This is because it will help the Government in its endeavours to diversify the economy. Furthermore, it will help in generating a lively new sector to promote investment and skills to the Isle of Man,” said Dr Alex Allinson MHK, Minister for Treasury. “We continue to welcome interest in further developing this sector, and we aim to build a world-class infrastructure.”
