New York Governor Andrew Cuomo has signed into law legislation that aims to boost hemp production in the state.
According to the Associated Press, Governor Cuomo announced $10 million in state funds to boost industrial hemp research and development. The bill signed by Cuomo formally adds hemp to the state’s list of agricultural commodities and creates a hemp advisory panel.
According to Governor Cuomo, hemp holds great potential for New York’s agricultural and biotechnology industries. A state program launched last year allows farmers to partner with universities to grow and research hemp.
According to congressional research, the United States imports over half a billion dollars in hemp from other countries – primarily China and Canada – while retaining the illegality of its cultivation among its own farmers. According to the same report, the hemp market to consist of over roughly 25,000 various products.