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Business and the Economy

Kentucky Farmers Expected To Benefit From Hemp Measure

wkms.org

Former Kentucky State Treasurer Jonathan Miller has been working for the legalization of hemp for more than six years.  President  Donald Trump is expected to sign the farm bill, which includes the hemp provision, into law next week.

Miller says the era of hemp prohibition is now over, adding, it’s not considered a controlled substance but an agriculture commodity.  The Lexington attorney says one of the biggest market opportunities currently resides in Cannabidiol oil for therapeutic uses.  But, Miller said it won’t be a cure-all. “I don’t want anybody to expect a panacea.  This is not going to solve all of Kentucky’s economic problems, but it’s going to be a great alternative for farmers, particularly those who have been farming tobacco.  It could be great for a lot of small businesses as well,” said Miller.

Miller’s doesn’t think it will ever top burley tobacco as a Kentucky cash crop.  The late Gatewood Galbraith, a Lexington attorney who ran for political office several times, was a major proponent of hemp.  Miller said he took up that mantle following Galbraith’s death.

Miller, who served as Kentucky State Treasurer from 1999 to 2007, says it’s been a bi-partisan issue.  “What’s so unique in this polarized and paralyzed Congress is you’ve got Chuck Schumer and Mitch McConnell agreeing on something.  You’ve got someone like Jamie Comer, who’s a conservative Republican, Thomas Massey, who is a libertarian.   Jared Polis, the new governor of Colorado, a very liberal Democrat.  They’re all working together on this.”

Miller believes there were a lot of farmers and prospective hemp industry representatives sitting on the sidelines, waiting for hemp to be taken off the controlled substance list.  The Lexington attorney, who specializes in hemp issues, expects both acres of hemp and the market for hemp products to bloom  at a greater rate in the years ahead.

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