One of the largest cannabis players in Canada keeps growing and growing. Organigram, which recently rebranded to Organigram Global to penetrate the American and International markets, currently employs more than 700 people in the Greater Moncton area.
"We're the fourth largest employer in the private sector and the ninth overall in the province," said Nathalie Kubrick, executive vice president of operations at Organigram Global. "In terms of impact, we employ 725 people, that's 725 families."
Those employees work inside a 550,000 square-foot growing and distribution operation in the Moncton Industrial Park which cost close to half a billion dollars to build. Yearly operating expenses total around $80 million, and the monthly power bill is $1 million. Business is strong, but Kubrick said they are heavily burdened by an excise tax.
"It represents 30, 40 percent of our revenue so a lot of companies in Canada are diverting their kilos to international because you don't have to pay that excise tax when you sell internationally," said Kubrick. "And because of that heavy burden on excise tax, profitability is an issue for a lot of companies in Canada."
Read more at CTV News
