Puerto Rico aims to become hemp capital of the Americas

 

San Juan, Puerto Rico – On April 2, the hemp industry’s most important players will convene at the Hyatt Grand Reserve in Rรญo Grande, Puerto Rico, for a packed agenda of conferences on the economic prospects and opportunities for hemp cultivation and commercialization in Puerto Rico and the United States.

Puerto Rico HempBiz is the event that aims to launch the fast growing hemp industry in the Caribbean island and transform it into a hub for the Americas.

โ€œWe have designed a robust educational program designed to help participants compete at a global level. Attendees will learn why Puerto Rico is the ideal site for hemp cultivation and processing,โ€ said Noemi Pรฉrez, President of PR MedCann.Biz and PR HempBiz.

Department of Economic Development Secretary Manuel Laboy stated “Puerto Rico has a great opportunity to stand out as the leader of the hemp industry in the Americas. Among the multiple factors that the Island brings to this emerging industry, we can highlight its geographic position; it allows up to three crops per year, rather than just one (as in common in more template climates). Further, the combination of our qualified workforce with our already proven manufacture sector working together with our agriculture, manufacture and research and development incentives, create the ideal climate to propel the development of the hemp sector. As government, our commitment is to continue working as a partner of the private sector and explore new economic industries and sectors that benefit the people of Puerto Rico.”

With an expected attendance of hundreds of industry players, PR HempBiz is open to investors, entrepreneurs, farmers and others interested in exploring the multiple opportunities offered by Puerto Ricoโ€™s nascent Hemp industry.

Last year, Puerto Rico approved a sweeping new tax incentives law that incentivizes the cultivation, processing and manufacturing of hemp and related products presenting attractive opportunities to investors, explained Pรฉrez.

โ€œThe fact that hemp is a highly exportable product makes this extraordinary plant a rare business opportunity with large scale potential,โ€ added Pรฉrez.

During the span of one day, the conference will provide attendees with the tools to successfully enter this dynamic market and also with networking opportunities to generate new business relationships.

Subjects to be covered will include cultivation and agriculture, product manufacturing, market development, regulation, public policy, among others. Each subject will be presented with an approach for a fast and sustainable implementation.

Pรฉrez explained that Puerto Rico has multiple and unparalleled benefits for businesses looking to start hemp cultivation operations. For instance, the island offers extremely favorable weather with 2,800 hours of sun a year, allowing producers to grow up to 3 hemp crops a year. Moreover, the local state government offers not only a set of unique local incentives for registered farmers but government owned land and manufacturing facilities that are available for rent.

โ€œAn ample pool highly skilled farm workers is readily available,โ€ said Pรฉrez. No passport is needed or any special documentation for U.S. citizens working on the island. Banking and commerce is conducted in U.S. currency and investments are regulated by the laws of the federal government of the United States of America.

Event organizers are also calling on all entrepreneurs with hemp related startup projects and looking for capital investment to attend. Entrepreneurs seeking to launch hemp projects in Puerto Rico will have the opportunity to pitch their ideas and innovation projects to a panel of experienced investors that will be assembled at Puerto Rico HempBiz. The panel will select a winning team. The call for proposals for this โ€œShark Tankโ€ style event is now open.

For more information and event registration, please visit https://prhempbiz.com/.

Media inquiries: Edison R. Misla | 787-536-4320 | Edison@newsmakerspr.com

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