Spring Hope, NC, Dec. 19, 2018 – Hemp, Inc. (OTC PINK:HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers including the largest multipurpose industrial hemp processing facility in the western hemisphere (in Spring Hope, North Carolina), announced today that the company has been at the center of news coverage regarding the 2018 Farm Bill that includes language legalizing industrial hemp. The $867 billion bill recently passed in both the House and Senate, and next needs to be signed into law by the U.S. President.
In addition to the company’s operation in Spring Hope, North Carolina, Hemp, Inc. also has one of the most sophisticated post hemp local processing centers in Medford, Oregon, and a 4,500-acre hemp growing eco-village in Golden Valley, Arizona.
“It is no surprise that the legalization of hemp is creating a media whirlwind – and Hemp, Inc. is at the center of it,” said Hemp, Inc. CEO Bruce Perlowin. “This signifies a momentous occasion in U.S. history. Our multi-state operations allow us to work with farmers across the nation, and we are confident this legislation will be a boon for the small family farm and U.S. economy as a whole.”
Some expect the global industrial hemp industry to hit $20 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.
Recent news coverage including comments from Hemp, Inc. CEO Bruce Perlowin about the impact legal hemp will have on the U.S. economy and farmers nationwide include:
- Forbes: “How Hemp and the Farm Bill May Change Life as You Know It,” Dec. 17, 2018.
- MassLive: “The federal government is about to legalize hemp: What does it mean for Massachusetts?”Dec. 16, 2018.
- Oregon Live: “Oregon hemp industry poised for big growth after feds sign off,” Dec. 13, 2018.
- KDKA Radio: “Hemp Farming Act of 2018” Dec. 12, 2018.
- Washington Times: “Hemp activists predict $867 billion farm bill will lift U.S. to new heights,” Dec. 11, 2018.
- Caribbean Business Times: “Industrial Hemp: Sustainable Economic Development for P.R.?,” Dec. 5, 2018
- Wilson Times: “Raising hemp a lucrative but risky business endeavor,” Dec. 2, 2018.
- Oregon National Public Radio (Jefferson Public Radio): “The Rise Of Industrial Hemp In The Rogue Valley,”Nov. 2, 2018