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2016FallSymposiumURCreativityEngagement has ended
Tuesday, December 6 • 9:40am - 10:00am
Industrial Hemp: Economic Challenges And Opportunities For The United States

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Industrial hemp is used for rope, carpet, brake linings, automotive body parts, shoes, fabrics, paper, cardboard, cement, wallboard, fuel, lubricants, soap, shampoo, cosmetics, food products, and many many other consumer products in the U.S.; however, most of these are made from imported hemp due to the fact that industrial hemp is illegal to produce according to federal law. Section 7606 of the Agricultural Act of 2014 allows for state by state pilot research proposals; many states have since enacted laws to establish hemp production and research programs in various forms. The resulting emerging market for industrial hemp is quickly evolving and unique. There are few products that state legislation allows for while remaining illegal at a federal level. This project examines the emerging hemp market in the United States. Particular attention is given to the nature of the markets for the various final products and uses for industrial hemp, the number of buyers and sellers, the presence or absence of barriers to entry, pricing, and state and federal policies the influence the market. The uncertainty presented by the federal-state policy disconnect creates significant barriers to the expansion of industrial hemp production in the United States.

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Tuesday December 6, 2016 9:40am - 10:00am
035 Karpen Hall