We reported in February Peel NRE’s proposals for the site on the outskirts of Douglas ahead of a public consultation, which ran until March 7.
The regeneration and clean energy specialist has now applied for planning consent (reference number 22/00678/B) to develop a science innovation and research centre (SIRC), sustainable energy park and a medicinal cannabis cultivation facility.
Proposals for the 72-acre site the company have said would create around 250 jobs across a range of skills from botany and technology to security and exports.
More than 178,000 sq ft of cannabis cultivation space will be created with around 102,000 sq ft for research and development.
The scheme would also feature a solar farm to power the site which would be the island’s only grid-scale renewable project, contributing to the government’s ambitions on climate change.
The plans follow a recent change in the legislation of cannabis production and exportation in the island and represent a potential investment of more than £150m by the Peel Group whose chairman is billionaire John Whittaker who lives in the south of the island.
Managing director of Peel NRE, Myles Kitcher said: ‘This is a game-changing opportunity for the Isle of Man to get ahead in a new and exciting industry that will bring many benefits to the island and its people and we also hope that it will encourage more renewable projects in the area.
‘As expected, our proposals have attracted a lot of attention and, we are pleased to say, significant support from the community during the extensive public consultation.
‘This includes positivity around the emerging industry on the Island, the proposed campus-style development and new educational and career opportunities.
‘We will continue to work with the community over the coming weeks and months as the project progresses and will be holding an industry event later in the year for businesses interested in finding out more about available opportunities.’
Treasury Minister Dr Alex Allinson MHK added: ‘The development of the island’s medicinal cannabis sector is a key part of the government’s ambitions to diversify the economy as well as creating a vibrant new sector to attract more investment and skills to the Isle of Man.
‘We are looking to create a world-class infrastructure and continue to welcome interest in developing this sector further.’