Hemp offers an opportunity like no other - the ground floor of a brand new industry. Hemp became legal in 2019 and the program is still in its earliest phase.
The Opportunity Zone Program offers lucrative benefits for making sound and reliable investments, to help revitalize local communities and economies, create jobs, and help stabilize our economy. The lucrative tax cuts incentivize a 5-10 year investments, which is exactly what the hemp industry needs right now.
On August 28, 2020, Congressman Denver Riggleman introduced H.R. 8131, the "Hemp Opportunity Zone Act of 2020". This legislation highlights, and expands on, the synergies between the two brand new federal programs that create jobs and revitalize local communities and economies.
While this legislation would surely be a huge benefit to the hemp industry, and the US at large, it is not entirely necessary. Hemp is Federally legal. And legal hemp businesses can qualify in Opportunity Zones. This overlap is very powerful, and gives hemp investors a solid edge and ROI.
The Hemp Opportunity Fund was created to manifest the possibilities, and build the hemp industry.
Right here, right now.