To further advance its efforts to become a top tier provider of Industrial Hemp, CannaVision, Inc. United States (CVI US) has opened a subsidiary in San Juan, Puerto Rico (CVI PR). For many years, Puerto Rico’s largest export has been papaya and tourism, but in September 2017 Hurricane Marie caused widespread devastation, the likes of which have not been seen in over 80 years. Needless to say, recovery for the island Commonwealth has been challenging, but around every corner there has been renewed hope. Steven Previch, President of CVI US states, “We believe out of catastrophe comes clarity—a new beginning for Puerto Rico. Hemp offers Puerto Rico the ability to recover much quicker due to its short growth cycle (120 days), as well as being able to take advantage of the many uses and products derived from Industrial Hemp.”
Hemp is one of the oldest commodities in the world with over 25,000 documented uses, such as building materials, textiles, and health-related products. CannaVision spokesperson adds, “We looked at farming Hemp in the United States, but each state offered its own set of limitations, which were not ideally suited to our business model. By comparison, Puerto Rico offers not only economic and tax incentives to corporations, its tropical climate is ideal for growing Hemp. We are already in negotiations with local universities and farmers to work in a collaborative effort to develop and distribute the highest quality Hemp in the world. The feedback and interest we have received from the citizens of Puerto Rico has been amazing. They are very excited about the prospect of making Hemp their largest export.”