Hemp-based wood startup in Kentucky begins production amid trade dispute

A Kentucky company planning to develop hemp-derived wood products has begun production even as it appeals a 25% tariff on some equipment from China.

Fibonacci opened its $5.8 million facility in Murray, Kentucky, this week.

The company, which plans to employ 25 people making hemp-based wood products such as flooring and furniture components, is appealing a tariff it had to pay on an industrial wood press. The company is arguing that it tried but failed to find a U.S. supplier to make the machine.

Fibonacci received a 10-year tax incentive worth $300,000 from the Kentucky Economic Development Finance Authority for its investment and if it meets annual targets, according to The Lane Report, a Kentucky business news service.

The company has also qualified for state assistance in recruiting employees.

2 comments on “Hemp-based wood startup in Kentucky begins production amid trade dispute
  1. Kendall R Stevens on

    I am looking forward to the day when the whole entire house can be built out of hemp – derived products. Specifically dimensional lumber made from hemp. But even other parts of the house can be built from hemp including, but not limited to, foundations, insulation, cabinetry, cladding, wall boarding and trim.
    This would also help our forests revert back to being diverse ecology. Instead of being the mono-culture that has evolved in the past couple hundred years or so.

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