Florida hemp market could surge to $30B industry.
This week marks the one year anniversary of Florida’s state hemp program. as the Company continues its massive expansion in the state. in order to build numerous hemp growing and processing facilities in Florida due to its booming hemp market estimated to surge to $30 billion.
Some are even calling it “the crop of the future”.
According to a news source, “hemp has given a boost to the Sunshine State.”
Florida’s prime climate is right for hemp so it’s really just a matter of ensuring that there are proper processing facilities once the hemp has been harvested. There is a need in equipping Florida hemp farmers with the infrastructure they need to ensure the success of hemp in the state.
Thus far, “hemp in Florida has created an estimated $370 million economic impact, supported over 9,000 jobs, and generated over $17 million in federal, state, and local tax revenue.”
Florida’s Agricultural Commissioner expects this year to have an increase in multicultural public education and outreach on the benefits of hemp.
There will be support needs in the state of Florida in order to support their hemp producers, processors, and retailers as demand continues to expand.
Hemp Leading Companies are becoming players in Florida that will help hemp farmers avoid a lot of the pitfalls they’ve faced in other states.
“We will also advance research and testing, ensuring Florida hemp products meet the rigorous quality and safety standards that the law requires and consumers deserve. I’m proud of our department’s work on this new green economic driver, and I believe that Floridians will enjoy the benefits of this commodity for generations to come. The sky’s the limit for Florida hemp and we’re very excited about year two,” said Commissioner Fried.
This infrastructure is important for Florida hemp farmers, as the FDACS has approved more than 800 hemp cultivation permits for farmers in 65 of Florida’s 67 counties, with more than 30,000 acres approved for planting.
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