The town of Bruderheim will be the site of a new hemp processing plant. The 40,000-square-foot facility will provide 40-50 jobs to Bruderheim residents. It can also be a big opportunity for contractors in that area of Alberta. Construction businesses and welding companies in Edmonton, which is 55 kilometers southwest of Bruderheim, may also benefit from the construction project.
About the Bruderheim Plant
The Canadian Rockies Hemp, a company based in Strathcona, is building the processing plant. The company selected Bruderheim because of its proximity to hemp farmers. The processing plant will consist of four warehouse-style buildings and will process over 40,000 acres of hemp each year.
The Hemp Industry and Construction
The Bruderheim Plant is one of many efforts of the growing hemp industry in Alberta. The construction of similar facilities in the province is vital to ensuring that the industry, and the farmers who contribute to it, remains profitable. The thrust to industrialize hemp processing can be lucrative for construction companies because manufacturers can use the raw material to make insulation products, construction materials, window panels, doors, and others.
The Bruderheim plant is a small project, with a projected completion by October this year. Larger and more industrialized facilities can take more than six years to construct. An example of such a facility in Alberta is the Aurora Sun Cannabis Production Facility, currently under construction in Medicine Hat. Alberta is fast becoming a major center for the hemp industry, with a single company based in the province producing half of Canada’s hemp in 2017.
Facilities like the ones in Bruderheim and Medicine Hat can provide massive profits for construction and to companies in related fields. With the forecasts provided by construction industry experts, this may give businesses in Alberta an edge in the coming years.
Expert Forecasts in Construction
A report from the Altus Group has indicated that residential construction will decrease over the next two years. This decline is in response to higher mortgage rates as well as a sluggish economy.
The report is supported by another study conducted by BuildForce, an organization that provides labor market information.
The construction industry will also face challenges caused by a retiring workforce. Between 2017 and 2026, almost 250,000 workers are going to retire, with only 215,700 new entrants in the same period.
But there is good news for construction companies and allied fields. Nonresidential construction is likely to increase over the next years, at a slow but steady pace. Analysts also predict the continued growth of construction and maintenance of commercial buildings.
Profitable Partnerships
During this period, forming partnerships with growing industries, such as hemp, may be prudent.
Hemp producers that are completing the pilot stage of their operations can provide lucrative opportunities in construction by building more complex processing facilities. For instance, the Aurora Sun facility in Medicine Hat, with an estimated cost of $130 million, is already boosting the area’s local economy. Such complexes may become important sources of income and employment in the years to come, and may help pave the way for future endeavors.
