Three-quarters of hemp businesses says they would either move or close if proposed legislation becomes law.
The hemp industry has seen explosive growth in the four years since the Legislature passed a law legalizing its cultivation and sale.
The low- to no-THC cannabinoid has emerged as a multipurpose crop amid a period of uncertainty and reduced volume for many crops traditionally associated with Florida. Orange production, for instance, has fallen by nearly half since the turn of the century due to citrus greening.
Hemp has helped many farms struggling with production losses survive and thrive, according to a recent study conducted by Whitney Economics.
There are currently more than 600 active hemp cultivation licensees in the state, and they are growing the crop on a combined 18,000 of land across Florida’s 67 counties. Additionally, there are about 9,260 businesses that have hemp permits in Florida.
The research conducted Beau Whitney, a cannabis economics, operations and supply chain expert, shows the hemp industry has a $13.7 billion annual economic impact on the state economy. That includes $6.8 billion in wages paid to nearly 190,000 Floridians with an average wage of $17.24 an hour.
But growers, retailers and extractors say the young industry is fragile and could face serious negative impacts — or outright eradication — if the state pursues new regulations on selling or producing hemp products.
Lawmakers are considering such policy in the 2023 Legislative Session....
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