Achieving sustainable growth in any industry depends on the ability of a company’s management team to accurately predict evolving market conditions and address rising demand. For months, Hemp, Inc. (OTC: HEMP) has kept shareholders abreast of its progress toward commencing operation of its industrial hemp decortication facility in Spring Hope, North Carolina. As the first and only hemp processing facility to be built in the United States in nearly a century, the construction and operation of this facility demonstrated the foresight of the company’s leadership team, and the time has now come for the company to benefit from this intuition.
On October 31, North Carolina Governor Pat McCrory passed Senate Bill 313, giving farmers throughout the state the option to legally cultivate industrial hemp crops. According to the North Carolina General Assembly, a legalized industrial hemp industry “is in the best interest of the citizens of North Carolina… to expand employment, promote economic activity and provide opportunities to small farmers for an environmentally sustainable and profitable use of crop lands that might otherwise be lost to agricultural production.” In a news release, Hemp, Inc. outlined its intentions to aid in the resurrection of the pivotal agricultural industry.
“Hemp, Inc. has made a commitment to North Carolina farmers to pay 10 percent above the market price for their hemp crops, for the first year, to boost the industry and give our farmers a helping hand,” Bruce Perlowin, chief executive officer of Hemp, Inc., stated in the news release. “We want to support and encourage the small family farm and non-GMO, certified organic hemp production.”
With legalization secured, the company is now progressing toward the impending start of production at its decortication facility. When complete, Hemp, Inc. will process hemp to sell to textile manufacturers and other users. The company’s decortication equipment can process raw hemp into two valuable base products – fiber and hurd – that can be used in the creation of hundreds of products. Hemp, Inc. has also outlined plans to build a testing lab within its processing facility that will be used for new product development testing, as well as testing of raw hemp materials, fibers and products. When completed, the lab will be the first of its kind in the U.S.
Through these measures, Hemp, Inc. will look to usher in a new era in domestic industrial hemp production, providing the company with a strong platform for sustainable financial growth. This optimism has been echoed by the markets. Since Senate Bill 313 passed, Hemp, Inc. has transformed into one of the top traded stocks on the OTC markets. Just after the opening bell, the company’s shares recorded a price increase of more than 113 percent. Moving forward, Hemp, Inc. will look to build on this progress while continuing to establish a strong position in one of the country’s most rapidly evolving industries.
For more information, visit www.hempinc.com
Let us hear your thoughts: Hemp, Inc. Message Board