New Legislation Allows New York to Expand Its Hemp Program — Hemp, Inc. Reports

Back in May, a diverse group of hemp organizations and hemp businesses gathered in Washington D.C. to coordinate their efforts to support pro-hemp federal legislation and find ways to collaborate. This historic stakeholder gathering agreed that the bill with the best chance of passing is the Industrial Hemp Farming Act (IHFA). This bill would make hemp fully legal at the federal level, and bring significant jobs and economic development to rural farming families.

“Laws regarding industrial hemp are rapidly changing. Our focus now is to finish the final phase of our industrial hemp processing plant, after which, we will turn our attention toward marketing,” said Bruce Perlowin. “Marketing products, of this size and scope, to Fortune 500 companies and other large companies requires a ton of inventory in stock along with reassurance that we can maintain that supply as demand is increased. The moment we are producing, on a regular basis, our sales will begin in earnest.”

Bruce Perlowin also noted, “It’s a big difference between spending hundreds of thousands of dollars a month on infrastructure versus spending half that amount marketing the products that infrastructure is creating. With the size of the orders we’ve been negotiating, it will certainly be worth the wait. I’m extremely confident there’ll be no problem generating revenues from sales.”

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ABOUT INDUSTRIAL HEMP

Hemp is a durable natural fiber that is grown as a renewable source for raw materials that can be incorporated into thousands of products. It’s one of the oldest domesticated crops known to man. Hemp is used as a nutritional food product for humans and pets, building materials, paper, textiles, cordage, organic body care and other nutraceuticals, just to name a few. It has thousands of other known uses. A hemp crop requires half the water alfalfa uses and can be grown without the heavy use of pesticides.

Farmers worldwide grow hemp commercially for fiber, seed, and oil for use in a variety of industrial and consumer products. The United States is the only developed nation that fails to cultivate industrial hemp as an economic crop on a large scale, according to the Congressional Resource Service. However, with rapidly changing laws and more states gravitating towards industrial hemp and passing an industrial hemp bill, that could change. Currently, the majority of hemp sold in the United States is imported from China and Canada, the world’s largest exporters of the industrial hemp crop.

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