If the new bill in Nebraska, LB133, was to be passed it would allow for farmers in the state to cultivate industrial hemp. The senator who wrote the bill, Justine Wayne, believes that the reemergence of the industrial hemp industry would create tons of jobs for Nebraskans.
Hemp can be grown, processed, and manufactured into a number of finished goods including textiles, bio-fuels, food, construction materials, and medicine. The recently popularized non-psychoactive compound CBD can be extracted from hemp or cannabis and has been reported to contain an array of medical benefits, especially for patients with epilepsy.
Growing industrial hemp is the first step in an industry that contains limited infrastructure to maintain large scale operations. Public companies in the industrial hemp industry like Global Hemp Group, Inc. (CSE: GHG) (OTC: GBHPF) have begun to introduce the idea of setting up Hemp Agro-Industrial Zones, or HAIZ, around the world. The concept implementing HAIZ requires the companys coordinatation between capital, farmers, and labor across all of the different industrial products produced from the hemp plant to produce value to its shareholders and a greater social and environmental impact. The company also completed the first season of industrial hemp trials in NewBrunswick, Canada at the end of 2017. The first step in setting up a commercial production in Canada.