The Legalization of Industrial Hemp and What it Could Mean for Indiana's Biofuel Industry

Abstract

Over thirty countries around the world have a legal industrial hemp industry; the United States is not one of them.' Each of these countries have realized the amazing potential of this one plant as an efficient input source for many industries including, but not limited to, food products, cosmetics, paper, automotive parts, clothing, and biofuel.2 These industries provide a steady source of income and thousands of jobs for people all over the world.3 The use of hemp as the primary input makes the processes and resulting products environmentally safe and even beneficial.4 In the United States, countless studies have shown the benefits of hemp.5 Many states have conducted their own feasibility studies examining what hemp can do for them. 6 In this time of economic turmoil and budget deficits, states are looking for ways to diversify and expand their current industries. They are also looking for cheaper, smarter, more environmentally friendly ways to produce products in their current industries. Some states are finding that industrial hemp offers an answer.' The production of industrial hemp products is a new industry in itself.8 Additionally, industrial hemp can help replace, and possibly eliminate, the need for limited resource inputs in the