This week, Florida marked the first anniversary of Florida’s hemp program. The program has already had a significant impact on the state - just within the first year, the hemp program supported over 9,000 jobs, generated over $17 million in federal, state and local tax revenue, and created an estimated $370-million economic impact, according to Florida Agricultural Commissioner Nikki Fried. Read more
As growers look ahead to next season, Hemp Grower has spoken with industry sources to compile four tips for help producers give seed the best chance from the start, laying the foundation for a productive yield. Read more
Preparing for the business side of the season, Megan Dubatowka, a partner with Harris St. Lauren & Wechsler LLP, shared insights this week into protecting your rights and ownership stake in your business partnerships. “…[I]t is imperative for industry veterans to know how they can protect their stake in a business at the beginning of a new venture and avoid potentially expensive and time-consuming legal battles down the road, should things turn sour,” Dubatowka writes. Read more
Also looking to the season ahead, changes may be coming down the pipeline from the federal level for Black and minority farmers. Details over the American Rescue Plan USDA stimulus are beginning to come to light, starting with a $2 million grant program for socially disadvantaged farmers and ranchers. (The application for that is due May 5.) While Black hemp farmers are pleased about the stimulus, some are cautiously optimistic about what it will ultimately mean for them. Read more
