The CBD trend has arrived in Rochester. HempSol, a CBD boutique, has opened at 1425 Jefferson Road in Henrietta.
CBD, or Cannabidiol oil, has become a hot product with the legalization of medical marijuana in states around the country, including New York. Purveyors of the marijuana extract, which has no intoxicating properties, claim it helps treat medical problems from epileptic seizures to anxiety, pain, insomnia and more.
So far, the most definitive research has shown its effectiveness in treating rare forms of epilepsy; in 2018, the FDA advisory panel recommended approval of a CBD-based drug for that use. But anecdotal reports and some studies have suggested benefits in those other realms, as well.
HempSol in Henrietta offers a selection of products from brands such as Lazarus Naturals, Green Buddha, CBD Living and Green Mountain. HempSol’s products range from flower, oils, topicals and edibles to bath, beauty, beverages and pet products.
"We are seeing people daily who are looking for relief from anxiety, sleep issues and dry skin, to people looking for products for their dog’s separation anxiety, aging joints, or injury recovery,” store manager Jordan Blundell said in a statement.
HempSol’s staff helps consumers answer questions about products, Blundell added.
Coming soon is another CBD boutique. The Little Apothecary will open on South Avenue in the South Wedge neighborhood in Rochester, said entrepreneur Pete Lezeska.
The Little Apothecary will focus on CBD and holistic wellness remedies for the busy professional, he said. Lezeska also is a partner at Nosh, Old Pueblo Grill and is a Realtor and home flipper.
In Greece, CBDepot at 2300 W. Ridge Road sells CBD products such as hemp oils, tinctures, edibles, lotions and wax. In the Park Avenue area there's Hemp It Up at 622 Park Ave. And there's also AllNatural CBD at 2453 Lyell Road. CBD products are also available at some area vape shops.
Cannabidiol (CBD) oil has become the hot new product in states that have legalized medical marijuana, such as New York.
The new businesses come as New York continues plans to change its stance on marijuana. Gov. Andrew Cuomo on Tuesday unveiled his plan to legalize and tax marijuana for adult recreational use.
CBD is one of several chemical compounds that are found in cannabis and hemp plants. (THC, distinctively different, is the main psychoactive component in marijuana.)
The CBD industry has been growing and is projected to continue to grow in 2019. Capital raised by cannabis-related companies will triple from $13.8 billion to over $40 billion in 2019, wrote Erik Blakkestad of Electrum Partners LLC. The primary driver will be an increase in funding of ancillary businesses supporting the industry coming from venture capital epicenters in Silicon Valley and New York.
FDA Commissioner Scott Gottlieb last month highlighted how it is considering regulating cannabis products after President Donald Trump signed the farm bill into law. The $867 billion, five-year spending bill that funds agricultural and other federal programs also released some federal restrictions on cannabis. It legalized hemp by removing it from the Controlled Substances Act while preserving the FDA regulation on the products.
In another sign that the CBD market is becoming mainstream, more people are interested in not just the products but the investment side of the industry.
Brighton resident Toni Weasner, 58, took an active interest in investing in stocks of CBD related companies last year. "At one point I was up 45 percent during the summer; not so much these days," she said.
She continues to follow the industry closely for investment opportunities, believing it is on an upward trajectory.
"It's my new hobby," Weasner said.
by Mary Chao, Rochester Democrat and Chronicle
Post time: Jan-21-2019