SPRING HOPE, N.C., Oct. 11, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today the company is featured in an article by Mail Tribune regarding Oregon’s burgeoning hemp industry. The Mail Tribune is a seven-day daily newspaper based in Medford, Oregon, that serves Jackson County, Oregon, and adjacent areas of northern California. The article includes comments from Hemp, Inc. CEO Bruce Perlowin on the potential of Oregon’s industrial hemp industry and elaborates on Hemp, Inc.’s expanding operations within the state. The hemp-derived cannabidiol (CBD) market is expected to hit $591 million this year, and it may grow 40 times this size—to $22 billion by 2022, according to a new report by Brightfield Group.
The article, “A fruitful hemp harvest, but for how long?,” details the immense opportunity Southern Oregon farmers expect to see with the federal legalization of hemp. The article also features footage from inside Hemp, Inc.’s hemp cultivation and processing company, Local Processing Center, Inc. (LPC) in Medford, which recently began processing the harvest of more than 100,000 pounds of industrial hemp from the first of many farms they have contracted with in that area. In the article, Hemp, Inc. CEO Bruce Perlowin explains why Oregon hemp farmers are well positioned to profit off of the national industrial hemp industry.
Currently, LPC has the capacity to dry 85,000 pounds of industrial hemp a week and that amount is projected to increase to 125,000 pounds a week as additional infrastructure developments are completed.
While Oregon’s hemp industry prepares for the potential impact of the 2018 Farm Bill that would legalize hemp nationwide, lawmakers missed the bill’s initial Sept. 30 deadline. Regardless of when the 2018 Farm Bill passes, Congress has confirmed that the hemp pilot program regime, passed in the 2014 Farm Bill, remains in place. The 2018 Farm Bill includes hemp legalization that is backed by Senate Majority Leader Mitch McConnell. Hemp, Inc. has previously announced its support for McConnell’s introduction of a bill to remove industrial hemp from the federal government’s schedule of controlled substances.
“We are thrilled to be featured in Mail Tribune’s coverage of the Oregon hemp industry that allows the public and our shareholders more insight into our operations there,” said Hemp, Inc. CEO Bruce Perlowin. “Our focus is on supporting the local family farm, and we are proud to have already assisted numerous farmers in the area by processing thousands of pounds of hemp.
Hemp, Inc.’s latest move into Oregon is a part of the company’s national growth strategy to expand operations in desirable hemp-growing markets, including development of our 500-acre Arizona hemp growing community and our upcoming line of CBD pre-rolls. We are proud to be on the forefront of this billion-dollar industry.”
Notably, there are now 40 states in the nation that have legalized hemp. Companies seeking to enter or further develop their footprint in the industrial hemp marketplace are aligning with Hemp, Inc. for the company’s proven expertise and state-of-the-art hemp processing and manufacturing infrastructure in Spring Hope, North Carolina and operations in additional states. Hemp, Inc.’s 85,000 square foot hemp processing and manufacturing facility has been operational since August, 2017.
To read the article, “A fruitful hemp harvest, but for how long?,” click here.
ABOUT HEMP, INC.
With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. As a leader in the industrial hemp industry with ownership of the largest commercial multi-purpose industrial hemp processing facility in North America, Hemp, Inc. believes there can be tangible benefits reaped from adhering to a corporate social responsibility plan.
https://www.facebook.com/KingOfPot (Bruce Perlowin’s Facebook Page)
https://www.facebook.com/TheHempUniversity/ (The Hemp University’s Facebook Page)
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UPCOMING INTERNATIONAL AND DOMESTIC EVENTS
Across the globe, the hemp industry is rising to astronomical levels. In the wake of the hemp industry projected to grow 700% and hit $1.8 billion by 2020, there has been more education and networking within the industry. That means more events and conferences, thus, Hemp, Inc. has started compiling an ongoing list of upcoming hemp events around the world. Check out the listing of international and domestic events here.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
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Source: Hemp, Inc.