Texas Hemp Industry on the Brink: Will SB3 Crush a $5.5 Billion Market?

Texas Hemp Industry Faces Potential Ban Under SB3 Austin, TX – A proposed Texas bill, SB3, threatens to significantly impact the state's burgeoning hemp industry. The bill, if passed, could ban the sale of hemp-derived products, causing widespread economic disruption and job losses. Hometown Hero, a Texas-based cannabis company, is among those expressing deep concern. "I don't understand how Texas politicians can create something and then, on a whim, six years later, decide to completely wipe it out," says Lukas Gilkey, co-founder of Hometown Hero, in a recent video interview. The video highlights the industry's considerable economic contribution, generating over $5.5 billion in sales and employing more than 53,000 people last year, according to Whitney Economics. Gilkey emphasizes that Hometown Hero's products undergo rigorous testing and comply with all regulations. The video shows the company's hemp fields and products, underscoring the potential impact of the proposed ban. The bill's fate now rests with Governor Greg Abbott, who has until June 22nd to decide whether to veto it. The political climate surrounding the bill is complex, with both liberal and conservative lawmakers expressing differing opinions. The uncertainty surrounding SB3 creates a tense atmosphere for Texas hemp businesses, highlighting the need for clear and consistent legislation that supports economic growth while ensuring public safety.