Jacob Williamson grows, makes and sells hemp-based CBD products through his family’s Hens and Hemp farm. He went through the permitting process to be a hemp farmer when it became legal in 2019, but now he is leaving the industry.
“We can't keep up with the multimillion-dollar cannabis industry coming into the state,” Williamson said. “So, we're just gonna stop because it's too much.”
Williamson represents a group of entrepreneurs concerned about the future of the commercial hemp industry in Virginia, because of what they say is the risk and increased regulation of selling these products.
Lawmakers passed an amended version of Sen. Emmett Hanger’s bill, which redefines cannabis as any cannabis product with over .3% THC or .25 milligrams of THC per serving. That includes some non-intoxicating CBD products. The bill, however, excludes industrial hemp that is possessed by a person or company who holds a U.S. Department of Agriculture hemp producer license, as long as the THC level remains under .3%.
To read the complete article, go to www.insidenova.com