Virginia legal landscape shifts as cannabis support grows

RICHMOND, Va. — “We do grams, eighths, quarters, half ounces, pounds, wholesale pounds — however you want it,” Jacob Stretch said, standing between crates of dried hemp in his living room that doubles as his hemp processing and drying facility. Stretch, owner of Chesapeake Blue, just finished his first season growing industrial hemp as a registered grower and processor on his family’s farm.

Industrial hemp is poised to be a fast growing sector of agriculture in Virginia. Hemp advocacy group Vote Hemp estimates 2017 retail sales of hemp products neared $820 million nationally and will continue to grow.

Hemp is a versatile material that can be used in foods and beverages, personal care products, nutritional supplements, fabrics and textiles, paper, construction materials and other manufactured goods, according to a report from the Congressional Research Service.

In an October press release, Gov. Ralph Northam announced Virginia’s first commercial industrial hemp fiber processing facility. Appalachian Biomass Processing, in Wytheville, will create 13 new jobs and purchase more than 6,000 tons of Virginia-grown industrial hemp over the next three years, at a value of more than $1 million, the governor stated.

“I am committed to pursuing every path that will attract economic prosperity to our rural communities, and hemp production opens up a wealth of opportunity to bring new jobs and new business to Virginia,” Northam wrote. [Read More @ The Washington Post]

MJ Shareholders

MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers