In the latest Canopy Growth news (NYSE:CGC), the company’s stock increased as it garnered a license to produce hemp in the state of New York.

The Smiths Falls, Canada-based cannabis producer announced that efforts by New York Governor Andrew Cuomo and U.S. Senator Charles Schumer were integral in helping the company get a license in New York to process and produce hemp. The move marks yet another step forward for the cannabis and hemp industry, which is becoming increasingly more accepted in the U.S. and Canada.

Canopy Growth said that the company has plans to establish large-scale production in the state that will focus on hemp extraction and production manufacturing in the U.S. The company is awaiting Board approval to produce hemp in a specific site before it begins its New York operations.

It said that it plans to invest somewhere between $100 million and $150 million in its New York operations with the goal of producing “tons of hemp” every year. Canopy Growth is currently looking at a number of sites in New York’s Southern Tier.

If it manages to succeed in locking down a location, it will mark one of the first hemp extraction and processing facilities outside of Canada. The company’s management hopes that it will be able to announce a specific location within 100 days from today.

CGC stock is up about 13.2% on Monday.