A company making revolutionary products with industrial hemp has identified the Central Coast - and specifically Somersby - as the ideal location to establish a NSW manufacturing facility.
Gosford-based Biofiba Limited has taken advantage of recent changes to Australian legislation, allowing the legal cultivation of the variety of Cannabis.
Managing Director Paul Sanbrook says they use the stem of the plant to create a cost effective building material.
"It's an alternative to plastic and timber," Mr Sanbrook says. "It's a biocomposite, biodegradable material that can be moulded into any shape or size."
"We've chosen the palette industry as our entry point: The palette industry's worth $50 billion US worldwide, with 6 billion palettes being manufactured annually.
"Our product will provide a biosecure alternative to the plastic palette, which is starting to gain market share."
The company plans to start production in the first three months of next year, and believes it can further contribute to local employment through contracting Coast farmers and manufacturers.