Australia's first licensed medicinal cannabis producer has pitched a hub for Queensland to lead and support the growth of the emerging national industry.
Medifarm has asked the Queensland government for funding to build a Centre of Excellence at the University of the Sunshine Coast, which it says will draw together leading medicinal cannabis manufacturers and farmers.
"Queensland is in a perfect position. We do agriculture well, we do healthcare well. This is where they meet," Medifarm Director Adam Benjamin told AAP.
It's estimated the hub could create 500 jobs, attract $500 million in capital investment over 15 years and generate $1 billion export dollars over 5 years.
Rather than only focusing on research, the centre will also aim to build the industry's value with a focus on commercialisation by developing a viable medicinal cannabis supply chain.
More than $25 million is needed to start and run the centre in its first five years.
"This industry moves quickly, this is a great opportunity for public-private partnership," Mr Benjamin said.
"There's no time to think 'should we or shouldn't we.'"
The centre will keep Queensland competitive with other states, like NSW and Victoria, which have received research funding.
This month the world's leading medicinal cannabis company Canopy Growth Corporation announced it will base its Asia-Pacific headquarters in Victoria.
