The United States Department of Agriculture recently approved the New Mexico Department of Agriculture’s state hemp production regulatory plan.
States that seek to have primary authority over the regulation and production of hemp in their home jurisdiction were required by the 2018 U.S. Farm Bill to complete a state plan for review and approval by the USDA.
The hemp industry has potential for more job opportunities in the future, whether it’s field production or greenhouse production, or value-added products from extractors, manufacturers, specialty stores and hemp breeding operations. The New Mexico Economic Development Department expects to generate some 400 jobs from hemp-related businesses throughout New Mexico from its Local Economic Development Act funding.
“I have prioritized hemp production since day one,” said Gov. Michelle Lujan Grisham. “It can be an economic game-changer for our agricultural communities, creating jobs and building opportunity. I’m grateful for this next step and I look forward to more.”
Although New Mexico’s hemp statutes, rules and policies implemented for the 2019 and 2020 growing seasons already closely aligned with the 2018 U.S. farm bill, the newly approved state plan provides more clarity.
The approval of the state plan is encouraging for banks, as they work with the emerging hemp industry, according to Jerry Walker, Independent Community Bankers Association of New Mexico President and Chief Executive Officer.
New Mexico’s Hemp Manufacturing Act and Hemp Cultivation Rule legalizing and regulating hemp were initially promulgated in 2018. The first production licenses in New Mexico were issued in January 2019.
