USDA Approves New Mexico Hemp Plan

The U.S. Department of Agriculture has approved New Mexico’s hemp planwhich will take effect for growers licensed after October 31. The state’s Economic Development Department anticipates at least 400 hemp-related jobs from Local Economic Development Act funding.

Gov. Michelle Lujan Grisham (D) said the industry “can be an economic game-changer” for the state’s agricultural communities.

Jerry Walker, CEO and president of Independent Community Bankers Association of New Mexico said the USDA approval “is good news” for both hemp cultivators and the community banks that serve them.