A new facility just opened in Kentucky that is the United States’ first factory that will cultivate “wood” out of hemp.

The $6 million Fibonacci factory was opened in Murray two months ago by Greg Wilson, who started it after thirteen years of research and development in the wood products industry. Greg found that “hempwood” is not only 20% tougher than oak, it also grows 100 times faster. While it takes decades for a tree to fully mature, hemp can be harvested and regrown in just six months.

On top of that, there are 78 species of oak trees that are currently in danger of going extinct because of logging and deforestation.

“We look forward to being a productive member of Kentucky’s agricultural and manufacturing communities, and the enormous opportunities of hempwood as a renewable alternative to oak,” Greg said.

Kentucky Commissioner of Agriculture Ryan Quarles added that this is another step toward the diversification of the state’s growing hemp industry.

“When I became commissioner of agriculture, I said I wanted to make Kentucky the epicenter of the hemp industry in the United States,” he said. “The fact that Greg Wilson and Fibonacci LLC are choosing Kentucky to locate the first HempWood operation in the United States is a testament to the work we’ve done to strategically position Kentucky’s hemp industry.”

Calloway County Judge-Executive Kenneth Imes also praised the company for choosing to buy products locally.

“As judge-executive, I am always glad to see new jobs in our community but this particular project is especially exciting,” the judge said. “Not only will Fibonacci create 25 new jobs and invest almost $6 million, but they will also buy from our local farmers.”