.png)
The legalization of marijuana has provided plentiful opportunities for venture capitalists who wish to enter the weed industry. And the west coast is especially booming with opportunities in this newly legalized industry. But some creative entrepreneurs are turning to hemp (the plant from which marijuana and CBD are made) for purposes far beyond the typical medicinal, recreational or medical realm.
Many investors have ensued in the arms race that requires them to pay a huge price tag to obtain marijuana licenses to sell products and own dispensaries. But Los Angeles entrepreneur Corey Hughes was inspired to go a different direction. "The legalized cannabis industry is really over-saturated and recreationally driven, while hemp has the potential to create jobs in the inner-city and protect California homes and businesses from wildfires," says Corey.
I met with Corey at The Cheesecake Factory at The Grove in Los Angeles. He shared great information about his company, Construction Grade Hemp (CGH). At CGH, they manufacture Hemp building materials such as residential and commercial insulation, hemp wood, walls, and more. CGH recently opened its hempcrete warehouse in downtown Los Angeles to manufacture these products. Corey's company's conversion of the eco-friendly hemp plant into virtually any type of building material was a truly exciting innovation to learn about!
With grounded confidence in the future of the hemp industry, Corey explained how wood, plastic, clothes, car parts, and even speakers can be constructed from hemp material. "Hemp speakers provide some of the best studio acoustics," says Corey. The Los Angeles entrepreneur also explained, "some car products made from hemp are lighter and more durable than fiberglass products." He believes home building with hemp will be especially attractive to California residents and businesses living in wildfire zones.
Like every smart entrepreneur, Corey did his homework before fully investing in this venture. He had his local fire department test the burning temperature of hemp materials, showing them to be flameproof. He's also worked with Los Angeles-area colleges to develop student workshops, and he has worked with state labor unions and the Los Angeles Trade Tech to educate and recruit workers to this field. His company is currently working to convince contractors and decision-makers in the building industry to use more hemp materials in their projects! CGH is also working alongside Los Angeles architects and civil engineers to develop building materials that don't emit dangerous gases and chemicals!
Volume 82 will definitely stay on top of this story to see where Corey and the hemp industry builds from here.