City of Cumberland Secures Peak Harvest Health Commitment
August 4, 2015 – Cumberland, MD – The Cumberland Economic Development Corporation (CEDC) announced today that Peak Harvest Health (PHH), a Maryland-based pharmaceutical manufacturing company pursuing a license from the State of Maryland to manufacture legal medical cannabis, has committed to locate its operations in Cumberland. PHH has a building under contract in the city at the Riverside Industrial Park. More than 100 new local jobs are projected by 2020.
“This is an enormous opportunity for Cumberland to benefit from a multi-billion dollar, and growing, industry in the United States that is now expanding into Maryland,” said Shawn Hershberger, the CEDC’s executive director. “We are very fortunate to have attracted this top tier medical cannabis company to our area. If PHH secures one of the initial licenses Maryland is scheduled to award in late 2015, Cumberland will benefit greatly with new jobs and increased tax revenue.”
In April 2014, Maryland became the 21st state to pass legislation permitting the use of medical cannabis by qualified patients. The Natalie M. LaPrade Maryland Medical Cannabis Commission, a 16-member panel established under the law, is responsible for adopting state regulations and issuing up to 15 licenses to grow medical cannabis in Maryland. Applications are due in September 2015, and it is anticipated that licenses will likely be awarded late 2015 or early 2016.
“Cumberland is an ideal location for our headquarters and manufacturing facility. The city boasts a strong workforce and close proximity to a world-class health care system and respected colleges and universities,” said Ethan Ruby, CEO of PHH. “Our core focus is producing effective medicine for Marylanders, and we believe the state has one of the strongest regulatory structures in the nation due to its limited license rules and strict focus on patient care. We are fully committed to the long-term potential of this industry and being a responsible steward of this medicine as it comes to Maryland. Laboratory-tested medical cannabis can and will have a positive impact on the lives of qualified patients, the doctors who treat these people and their communities.”
Cumberland’s City Council last night approved Resolution No. R2015-07 in support of PHH. The resolution states that the Mayor and City Council, “exclusively support the application of Peak Harvest Health LLC to the State of Maryland for the cultivation and manufacture of medical cannabis in the city of Cumberland.”
“We welcome the opportunity to have PHH become a part of the City of Cumberland’s business community,” said Cumberland Mayor Brian Grim. “During months of discussions with and vetting of PHH’s team, it is clear the principals can set the standard for the regulated cannabis market in Maryland. They consistently exceed the standards around security and quality control, so the future of Maryland’s program would be in responsible hands if they were awarded a license.”
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About Cumberland Economic Development Corporation
The Cumberland Economic Development Corporation is a registered Maryland non-profit economic development organization tasked with oversight of economic development efforts within the City of Cumberland, Maryland. The CEDC is overseen by a board of directors comprised of established business leaders and staffed by professionals with years of economic development experience and education.
About Peak Harvest Health
Peak Harvest Health is a Maryland-based pharmaceutical manufacturing company dedicated to improving the lives of Maryland’s qualifying patients and advancing the overall science of the medical Cannabis industry. Principals of Peak Harvest Health have a successful record of operating in highly regulated medical cannabis markets.