Industrial Hemp Comes to the Hudson Valley
Last week, J&G, LLP assisted the parties to a contract for the growing, cultivation, and harvesting of industrial hemp here in Orange County.
One of the parties has an Industrial Hemp Research Partner Authorization issued by the New York State Department of Agriculture and Markets, authorizing them to possess, grow and cultivate industrial hemp. Other parties to the contract were the funder and those in possession of the real property.
To most observers, industrial hemp is indistinguishable from marijuana. It is defined as containing less than 0.3 percent of delta-9 tetrahydrocannabinol (THC), the primary psychoactive component in marijuana. Oil from hemp flowers is used in the production of many kinds of products, and oil from the seeds is an effective lubricant for machinery. The plant stalk is used to make rope and fabric, but is not considered to be commercially viable in the United States due to the availability of very inexpensive supplies from overseas. Oils from the flowers and seeds are far more valuable products.
J&G believes we are only seeing the beginning of what will likely become a very substantial industry here in the Hudson Valley.
Contact us if you have any questions about the growing business of industrial hemp.
Gary Schuster is a Partner with the firm and practices Business Law, and Arts & Entertainment. He can be reached by phone at 866-303-9595 toll free or 845-764-9656 and by email.
