SETEK chief operating officer, and Taupō local David Pearce, said initially 100 jobs would be created but could grow to more than 250 (FILE)
A medicinal cannabis company has been given the green light to set up its operations in Taupō, creating more than 100 jobs.
SETEK Therapeutics will establish its base in Taupō later this year after becoming the fourth company to receive a licence from the Ministry of Health to cultivate cannabis plants.
It’s only the second to receive permission to grow high THC cultivars for research in what is projected globally to be an $11 billion medical cannabis industry by 2022.
They will build their operation plant on a 26-hectare block of land on Rakaunui Rd, in Rotokawa.