HEMP MANUFACTURING: COLORADO'S UNTAPPED GOLDMINE
Hemp can create tires, paper, clothes, and countless other products. I want to foster a new manufacturing economy around hemp that generates billions in tax revenue. We’ll work with the hemp industry to help Coloradans become entrepreneurs in this untapped resource.
DETAILED ECONOMIC DEVELOPMENT PLAN:
State Investment Fund: $200 Million
- Entrepreneur Grants: $50,000-250,000 for hemp startups
- Equipment Loans: 1% interest rate for processing equipment
- Research Partnerships: $50 million for CSU/CU hemp research programs
- Infrastructure Development: Processing facilities, testing labs
Product Development Timeline:
Year 1-2 Products:
- Hemp Textiles: Clothing, rope, canvas
- Hemp Paper: Printing paper, packaging materials
- CBD Products: Regulated medical/wellness products
- Construction Materials: Hempcrete blocks, insulation
Year 3-5 Products:
- Auto Parts: Door panels, dashboards (partnership with auto manufacturers)
- Bioplastics: Packaging materials, disposable products
- Food Products: Hemp protein, hemp oil, hemp flour
Economic Impact Projections:
- Year 1: $50 million in hemp product sales, $4 million tax revenue
- Year 3: $500 million in sales, $40 million tax revenue
- Year 5: $2 billion in sales, $160 million tax revenue
- Year 10: $5 billion industry, $400 million annual tax revenue
Job Creation:
- Year 1: 2,500 direct jobs
- Year 5: 15,000 direct jobs + 30,000 indirect jobs
- Year 10: 50,000 total jobs in hemp economy
Tax Structure:
- Manufacturing Tax: 8% on hemp products
- Employment Tax Credits: $2,000 per job created in hemp industry
- Export Bonuses: Additional tax credits for out-of-state sales
Workforce Development:
- Hemp University Program: 6-month certificates in hemp processing
- Business Development: Entrepreneurship programs for hemp startups
- Research Positions: Graduate programs at state universities
