Hemp Now Federally Legal Across All 50 States, Hemp, Inc. Reports

SPRING HOPE, NC, Dec. 21, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE –  It’s official. After years of prohibition, industrial hemp is now federally legal in America. President Trump signed off on the 2018 Farm Bill yesterday afternoon which redefines hemp as an agricultural commodity, and more importantly, removes it from the Controlled Substances Act. That means hemp is no longer considered a Schedule 1 substance and the Drug Enforcement Administration (DEA) will no longer be able to interfere with the interstate commerce of hemp products.  With its ever expanding footprint across the nation, this is a huge win for Hemp, Inc. (HEMP).  A global leader in the industrial hemp industry, Hemp, Inc. has industrial hemp processing centers in multi states which includes the largest one (85,000 square feet) in the western hemisphere (in Spring Hope, North Carolina).

This Farm Bill, which goes into effect on January 1, 2019, is a monumental step for the industrial hemp industry and it will finally allow the U.S. to be competitive in the global market.  More than 25,000 products can be produced with hemp, ranging from construction materials to cannabidiol (CBD) products used to treat various ailments and improve wellbeing.  For Hemp, Inc. (HEMP), federal legalization of industrial hemp will afford it incredible market opportunities for its rapidly growing hemp cultivation and manufacturing operations across the country.  “This historic event in our nation’s industry creates a tremendous amount of opportunities for the small family farm, local communities, the U.S. economy, and a myriad of industries,” said Hemp, Inc. CEO Bruce Perlowin.

According to Perlowin, Hemp, Inc. has spent $25 million on building its industrial hemp infrastructure ($3 million over the course of 5 years building out the infrastructure in Arizona, $20 million building out the infrastructure in North Carolina, and $2 million in Oregon building out its infrastructure which only took 90 days). The company is currently looking for joint venture partners to provide its expertise.  These partnerships are designed for those who are ready to make considerably large investments in an industry primed to hit or surpass $20 billion by 2022.

“While we won’t forget the small family farmer, these joint ventures are designed for the millionaires and billionaires of the industry and billion dollar hedge funds that are investing large amounts of money into the industrial hemp sector,” says Perlowin. “The small family farmers are just as important to us so we will help them grow hemp and everything that needs to be done in terms of processing so they can re-emerge back into the American landscape.” 

For those interested in becoming a joint venture partner with Hemp, Inc., contact Hemp, Inc. via [email protected].

Hemp, Inc. has opened a multi-purpose industrial hemp processing facility in Spring Hope, North Carolina (its largest); an eco-village in Golden Valley, Arizona; a local processing center in Medford, Oregon; and is continuing to scout new locations for local processing centers nationwide. The company’s local processing center in Medford, Oregon is one of the most sophisticated hemp harvesting and post processing centers in the state of Oregon and its operations in Arizona consists of a 4,500-acre hemp growing eco-village which they are actively building out the first 500 acres for hemp cultivation. Hemp, Inc. aims to boost the economies of these towns by offering affordable hemp processing services, which incentivizes local growers to add hemp to their crop rotation. 

Hemp, Inc. has been at the center of news coverage regarding the 2018 Farm Bill to discuss the impact legal hemp will have on the U.S. economy and farmers nationwide. Some expect the global industrial hemp industry to hit $20-22 billion by 2022. Until recently, the U.S. has imported on average $100 million worth of hemp products each year, according to Congressional Research Service. Legalization will allow American farmers and companies to tap that market.

Perlowin added, “We have been working with farmers across the U.S. to provide the infrastructure needed to process hemp and have been providing educational services as well. I am proud that we had the foresight over four years ago to begin building the largest hemp processing center in the Western Hemisphere in Spring Hope, North Carolina. We have since then strategically entered new markets, which positions us on the forefront of this multi-billion dollar industry.”

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