Colorado City Giving Hemp Firm $5M in Incentives

The city of Pueblo, Colorado, is giving an upstart company a package of incentives worth $4.89 million to buy equipment and transform a long-shuttered former Boeing plant into a large CBD and hemp processing facility.

The deal marks the first time a city has backed a hemp company to spur economic development, according to a statement from the company, CBD BioSciences.

The firm claims that the 193,000-square-foot facility will be the largest CBD and hemp processing operation of its kind in…