The Pueblo City Council met on April 11th and approved Resolution M-3, which will delay the closing of a deal with CBD BioSciences by four months. The $8mm deal was announced in October and provides tax abatements for the project, which is expected to create 163 jobs, and a loan to purchase equipment. CBD BioSciences is partnered with O.penVAPE on the project, which involves the renovation of former Boeing factory.
Pueblo has targeted hemp as one of three industries that it believes can help revitalize the city, but CBD BioSciences was concerned about regulatory issues and asked to delay the closing. The Pueblo Chieftan reported that the issue is related to recent FDA warning letters issued in February.
The discussion began at 44:15: