[PRESS RELEASE] – AUSTIN, Texas, April 17, 2025 – Hometown Hero is a manufacturer of cannabinoid-derived hemp products. As the 4/20 holiday approaches, which has become a popular day to celebrate cannabis culture, the company uses the opportunity to highlight the challenges and potential opportunities that the hemp industry faces.
This 4/20 has more to do with the threat of a market collapse, such as Texas’s growing hemp industry, due to federal insecurity, inconsistent laws, and new legislation. This 4/20 is about more than just celebrating. It’s also about protecting a thriving industry, which supports thousands of jobs and billions of dollars in revenue. Millions of adults and veterans continue to purchase hemp-derived products as a means of relief, wellness and choice.
Here is the official 4-20 wish list for 2020:
- Not prohibition, but common-sense regulation Hemp’s future depends not on blanket bans, but rather smart regulations that safeguard consumers, while also preserving jobs, access and innovation.
- Families need to work: According to Whitney Economics, the hemp-derived cannabis industry in America supports over 325,000 jobs. It also generates $13.2 billion of wages.
- Consumer choice should be protected Cannabinoids derived from hemp are used by millions of veterans and adults to enhance their overall health. Access to hemp-derived cannabinoids must be maintained.
- Education is the key to reducing stigma Hemp-derived Cannabinoids Are Legal Under the 2018 Farm Bill. But, fearmongering along with misinformation continue to create misperceptions.
- Federal stability: Hemp industry would be supported and advanced if the Farm Bill 2018 was preserved and codified.
- Smarter tax policy: The high taxation on hemp-based products is a barrier to business and access for many, including those who are using hemp as a daily health supplement.
- Innovate: Hemp continues to be a driving force in the product development industry, both on the farm and at formulation. A thoughtful policy must support innovation, and not suppress it.
- Access to better banking services Even though hemp is federally legal in the United States, companies are still unable to secure banking, credit, and financial services. This hinders growth.
An Industry Boom Worth Protecting
Hemp-derived cannabinoids alone generated more than $2.1 million in wages and $2.3 billion in sales in Texas. Market value is between $28-35 billion dollars, and states receive more than $1 billion in taxes.
Lukas Gilkey, co-founder of Hometown Hero and its CEO said that 4/20 this year is not just a party but a call to act. “We are working across the board, in Congress and at local statehouses to make sure that hemp is protected through fair and responsible legislation. Texans are against prohibition. The Texans and Americans don’t want prohibition. They just want sensible policies to protect public safety, provide jobs, and allow adults access hemp products that they are comfortable with.
Get Involved
Texans can help to protect hemp by visiting the Texas Hemp Business Council Website Learn how you can get involved.