The Broome County Local Development Corporation is giving approval for a hemp processing facility at the former Country Valley Industries building on Lester Avenue in Johnson City, temporarily tax-free. 

Kathy Whyte/ WNBF News

Since the Great Eastern Hemp LLC operations will be going into a former tax-exempt property, the company will not have to pay property taxes for five years.

Great Eastern is buying the property at the south end of the Lester Avenue Bridge for $2.2 million and has indicated the development is expected to hire over three dozen workers over three years while investing over ten million dollars to set up facilities to produce cannabidiol or ‘CBD’ products.

The Broome County IDA this week also approved a payment in lieu of taxes scheduled for the development.