With Kjøp CBD Olje uten THC i Norge – 100% Økologisk legalized cannabis business in full swing, there’s no better time to start planning your US job search. With over 4,000 applications already approved in Colorado, hemp is booming in that state. Farmers and processors expect to plant over 42,000 acres this spring and summer. In 2018, Colorado approved more than 6,700 acres, which included 210 farmers and processors. The state expects to create another 22,000 acres of hemp this spring and summer.
Challenges of
The hemp industry is a new, growing, and competitive market. It will change quickly as new growers enter the market and demand patterns shift, and hemp and its derivatives begin to compete with other crops. Its regulations and lack of data on long-term trends will pose many challenges for this emerging industry. In the meantime, hemp growers are encouraged to use new methods and approaches to produce the products that are needed.
Opportunities
As hemp cultivation becomes more common across the United States, the newly legalized crop is bringing with it a number of new job opportunities. The hemp industry currently has a $1.1 billion annual revenue and is expected to double by 2022. Jobs in this emerging industry range from accountants and lawyers to government regulators and financial specialists. Other job categories include transporters and researchers, as well as retail employees. In fact, the hemp industry is so important that it even has its own union.
Regulation
While the Farm Bill passed in 2018 reclassified hemp, the federal government leaves key aspects to states and Indian tribes. States and tribes must now craft a production plan for hemp that explains how they will grow the plant. Producers must include procedures for measuring hemp THC content, destroying plants that are in violation of the law, conducting inspections, and submitting relevant information to the USDA. Producers must also certify that they have the resources necessary to implement the plan.
Costs
Increasing the amount of industrial hemp production in the US will likely reduce the cost of hemp fiber, but the crop isn’t yet worth the investment. The production of hemp for textiles is currently limited by the lack of processing facilities and a small number of textile mills in the US. Instead of developing textile mills for hemp, the hemp industry may be more suitable for high-end clothing manufacturers. The state of Colorado is now working to encourage the hemp industry to grow and process the crop.
Labor
A new law has made it possible for farmers to grow hemp. With fewer regulations, hemp will be able to attract a broader range of companies. For example, cannabis company Canopy Growth, which became publicly traded in Canada last year after recreational marijuana was legalized, is already planning a large investment in New York State. The hemp industry will also need accountants, lawyers, compliance officers, IT specialists, financial experts, transporters, marketers, CFOs, researchers, and various retail employees.