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Thu June 5, 2014
Kentucky May Provide Loans to Lure Hemp Processors
Kentucky’s burgeoning hemp industry may receive a shot in the arm later this year if the state changes a loan program for agricultural processors.
Roger Thomas is the executive director of the Governor’s Office of Agricultural Policy. He says a loan program designed to cover the costs of processing other agricultural products could apply to hemp processing once state universities have determined which hemp products are best suited for Kentucky.
“If the research proves that it’s a viable crop for Kentucky farmers, then perhaps later this year the Ag Development Board might look at tweaking some guidelines to allow the County Agricultural Investment Program, the county funds, to be accessed for that purpose.”
State agriculture experts predict that the cost of creating infrastructure for a new hemp industry will affect how successful it can become.