Industrial Hemp: Cultivating Virginia’s Cash Crop

 The purpose of this project is to investigate and fully understand the business potential of industrial Hemp cultivation, specifically in Virginia. Hemp is an amazing plant with a long history of use and virtually unlimited uses. With recent changes in Federal legislation, this incredible plant is now legal to grow and no longer classified as an illegal drug. This is an exciting time for the future of the hemp plant and the business that can come with it. The purpose of this research is to fully analyze and understand all aspects of a successful hemp business. These include, but are not limited to: 1. Investigating how much land is required to grow an adequate amount of product to produce a profit. 2. What farming materials and machinery is required for the plant’s success. Ex. Harvesting machinery, pesticides, and fertilizer. 3. Which application of the hemp plant would be most profitable? With so many uses of the plant, which application has the most market value? How do you maximize profit from every part of the plant? 4. Fully understanding government sanctions including taxes, legalities, and insurance requirements in the state of Virginia. 5. Establishing a timeline of how long it would take for a hemp startup to become a successful, profitable business.