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.
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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.
