Hemp used to be legal once in the US, until it was controversially made illegal. But this changed this year asPresident Donald Trump signed the Farm Bill, legalizing industrial hemp in the United States once again. This new policy, voted on every 5 years or so, was highly anticipated after Congressional approval last week. The bid for hemp’s recent legalization began when Senate Majority Leader, Mitch McConnell pushed for hemp in the 2018 Farm Bill. The goal was to reinvigorate the plant’s farming opportunities from state pilot programs to a nationwide scale by removing hemp from the Controlled Substances Act and treating it like an agricultural product.

Gov. Matt Bevin today announced Fibonacci LLC will locate a HempWood® manufacturing operation in Calloway County with a more than $5.8 million investment expected to create 25 full-time jobs.

“The commonwealth’s burgeoning hemp industry is quickly gaining national attention, and this exciting project will significantly intensify that spotlight,” Gov. Bevin said. “This hardwood alternative opens up new possibilities within the construction and woodworking industries and emphasizes the capabilities hemp has across numerous sectors. We are grateful to Greg Wilson and Fibonacci LLC for locating the United States’ first HempWood operation in Kentucky, and we look forward to the powerful impact the company will have on the region’s economy and the overall industry.”

Fibonacci will lease an 11,230-square-foot facility in Murray for its first manufacturing location with plans to establish an automated HempWood operation.  800 tons of hemp stalks have already been contracted through growers in west Kentucky. The operation is expected to begin production this summer.

“We look forward to being a productive member of Kentucky’s agricultural and manufacturing communities, and the enormous opportunities of HempWood as a renewable alternative to Oak,” said Greg Wilson, owner of Fibonacci. “Dr. (Tony) Brannon from Murray State University planted the seeds and Phill McCallon, Kentucky employee No. 1, demonstrates Kentucky’s expertise in agriculture and manufacturing.”

Hemp is amazing, it is stronger than steel, concrete, can be used to build about anything, you can make oil out of it, clothes, you name it…

You can read more about the factor here.