Feb. 12—Vana LLC, a woman-owned cannabis manufacturer, will be the first cannabis business to receive money from the state Local Economic Development Act fund, according to a news release. Vana was also the first company to receive New Mexico’s first cannabis manufacturing license in January 2022.

Vana is a processing and manufacturing facility in Clovis. It also sources locally grown cannabis products to process for area farmers, giving farmers and smaller producers a way to sell their products.

Vana received $90,000 in Local Economic Development Assistance funds, which will help add 12 new employees with an average salary of $46,626 per year, according to a press release from the Economic Development Department. The company ultimately plans to employ 45 to 50. The new investment aims to bolster the community’s business landscape and increase employment opportunities.

The company plans to invest $2.6 million to support additional growth in the next decade.

Parin Kumar, founder and CEO of Vana, said the company has strong ties in the Clovis community and it would like to continue that relationship.

“We have roots in this community, and we want to give back to the community where we raised our family,” Kumar said in a statement. “This investment is a big commitment for us, and the state assistance is important to build partnerships so we can achieve long-term success as we add employees and grow.”

The company projects contributing about $350,000 in gross receipts tax to the city of Clovis annually.

The Department of Workforce Solutions found the cannabis industry employed 4,666 workers in the state at the end of 2022.

“The legalization of recreational cannabis in New Mexico is growing businesses and helping rural communities diversify their economy and add jobs,” Acting EDD Secretary Mark Roper said in a statement.