Thanks to a provision in the 2018 Farm Bill, hemp is no longer a federally illegal controlled substance in the USA. The passage of the Farm Bill allows farmers to grow the once forbidden cannabis plant and even restart long forgotten hemp processing industries.
As it turns out, legally allowing farmers to grow hemp and sell it to processors is having a massive effect on employment in the United States, across industries. The hemp industry took in $1.1 billion in revenue in 2018 and is on track to more than double that in 2022, with $2.6 billion in revenue, according to New Frontier Data.
The effects of the hemp boom will be felt far from the agriculture fields and even the hemp processors, with job growth expected in the form of :
“accountants, lawyers, compliance officers, government regulators, IT specialists, financial and insurance experts, transporters, researchers and lab technicians, marketers, CFOs, CEOs and various retail employees,”
And while hemp is federally legal in the United States, only 41 states allowed the cultivation of hemp as of February and only 24 states had farmers actually growing it last year, which means there is plenty of room for growth and expansion.
“Job creation is going to happen in every economic bracket,” said the executive director of the DC-based National Hemp Association, Erica McBride Stark.
While hemp can be used for a wide variety of things including textiles, building materials, and food, the primary focus and most trending use of the plant is for producing CBD oil. CBD oil is made from the flowers, buds, and seeds of the hemp plant.
CBD oil is a non-psychoactive phytocannabinoid found in cannabis plants. It has been shown to aid users in treating anxiety, arthritis, pain, depression, and more and is being used with increasingly frequency to relieve pain associated with cancer and cancer treatment and in an attempt to treat the cancer itself.