US: National Hemp Association asks congress to budget $1 billion to support industry innovation

The National Hemp Association with its Standing Committee of Hemp Organizations (SCOHO) submits a $1B amendment to the upcoming infrastructure bill to accelerate hemp fiber and grain production.

Hemp became a fully legal commodity crop with the passage of the 2018 Agricultural Improvement Act of 2018 (Farm Bill). Until then Hemp was prohibited and could not benefit from the research, technology and investments garnered by other commodities. Public/Private Partnerships (PPPs) are essential for acceleration of fiber and grain production as vital infrastructure is needed to build reliable supply chains.

The main points of the amendment are as follows:

• $100M each for 4 regional super sites
• $120M issued to historically underserved farms
• $380M divided according to hemp farm calculations
• 10% of allocated funds for Departments of Ag to use to support their hemp programs
• Departments of Ag to distribute remaining funds up to $3M per entity for equipment purchases

“History confirms that the world looks to America to lead change, be it industrial, cultural or environmental. This is more true today than ever before, as we look to combat the global climate crisis affecting humankind. We know American ingenuity will drive many of these solutions and can do so with plant-based technologies. Hemp, America’s newest commodity crop, will be at the forefront of this regenerative economic and social shift; helping create jobs, clean our soil and air, and introduce sustainable new products once only dreamed about. With the right investment in infrastructure hemp will become America’s Next Natural Resource.”, said Geoff Whaling, Chair, National Hemp Association.

For more information:
National Hemp Association
1629 K Street, NW, Suite 300, Washington, DC  20006
(202-706-3911)
nationalhempassociation.org

 


Publication date:



Receive the daily newsletter in your email for free | Click here


Other news in this sector:


Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber