President Donald Trump signed the 2018 Farm Bill on Dec. 20, 2018, which has legalized the cultivation of industrial hemp.
And its going to spread entrepreneurship throughout Wisconsin…
“We can finally relax. Because now we can source seed, now we can sell our product across state lines. Prohibition is over. It broadens horizons, allowing universities to do research, for example,” Luke Zigovits (chief executive of Wisconsin-based Hemp Science) told MarketWatch.
To start, this is going to be a game changer for Wisconsin farmers. Instead of relying on China and Canada, U.S. companies can start working with U.S. farmers on securing industrial hemp.
The stalk of hemp plants contain fiber that can be used for fabric and to make rope.
It also can be used in health foods, beauty products, construction, and even biofuels.
And it doesn’t stop there…
Hemp Entrepreneurship Opportunities in Wisconsin
By 2022, Hemp Business Journal projects that the U.S. hemp industry will be worth $1.9 billion. From $820 million in U.S. hemp sales in 2017, that’s an increase of 131%.
While this will be a boon for farmers, it will also create a wave of other job opportunities in Wisconsin.
Web designers will be hired to create websites.
Writers will be hired to create content.
Marketers will be hired to promote websites and products.
And more hemp stores specializing in CBD products will pop up, which will need trained staff. By 2020, the marijuana industry is expected to create more jobs than manufacturing.
We are just at the beginning.