Senate Enrolled Act 516 legalized hemp cultivation and processing in Indiana. The Indiana State Department of Agriculture (ISDA) estimates that hemp will add $31.2 billion to the state’s economy. It’s also estimated that Indiana will be the 10th largest hemp farming state in the U.S.
The hemp market in Indiana has estimated the market to be worth $22 billion, according to Eagle Country 99.3. Right now, only those that have been pre-approved to grow hemp in Indiana can do so. Once the regulations for the state are in place, more Hoosier farmers will be able to apply for licensing.
Growing and/or processing hemp without a license in Indiana will remain a Class A misdemeanor.
The Indiana Hemp Advisory Committee will assist ISDA and the Indiana State Seed Commissioner with establishing and implementing the final rules and regulations for the new industry.