Veteran-owned business wants customers to live their best lives

Innovative Extracts diversified from hemp farming to creating CBD products. Photo: Provided.

In 2019, farmers Andy and Vince Golden and investor Matt Sinosky were growing hemp when the market bottomed out during the October harvest. “The bottom dropped out of the hemp market just as we were getting ready to harvest our first crop. It drastically devalued our product so we decided to shift gears a bit. We developed our own CBD oil which has now grown to a full spectrum of tinctures with over 25 individual products,” Sinosky said.

The team’s innovation and adaptability, combined with partnerships with Startup Alleghenies and JARI, led to the founding of Innovative Extracts. “JARI helped us early on. We were able to get our retail location set up and got a grant for product development. They have helped provide resources for marketing and referrals for accountants and attorneys. Our Startup Alleghenies coach Blake Fleegle is always available for advice and points us in the right direction when something comes up,” Sinosky said.

Hemp is grown on the Golden’s organic family farm in Portage. Wanting to maintain local control of the product, the team decided to establish the first extraction and post-processing laboratory in the area. “This Veteran-owned business is bringing the farm-to-table business model to CBD. The business is totally vertically-integrated which allows them to have total quality control when it comes to their products,” Fleegle said.

Today, the company offers over 25 different CBD products that are grown, harvested and produced onsite. Photo: Provided.

One of the biggest challenges entrepreneurs face is managing everything outside of their craft. This team is the perfect balance. “We have a good group of guys, and we all bring something different to the table. Andy and Vince are farmers and I take care of the strategy side. They can focus on what they know how to do… plant, grow and harvest our crops. The dynamic has provided a successful business model,” Sinosky shared.

The cannabis industry is lucrative and still growing. Sinosky said that the market is still small but is projecting significant growth over the next four to five years. “The cannabis industry is still emerging and in the growth phase. We go into it at a great time. No one else in our area is doing it. Cambria County is also relatively inexpensive to do business, which is favorable,” he said. Their products are available online and at two retail locations in Johnstown and Hollidaysburg.

While the company started practically–an investment opportunity and a way to make money off the farm–Sinosky shared that it has become so much more.  “As we started producing our products and people started using them, we realized we were truly improving people’s lives. We are seeing people every week that we are helping. Whether with sleep disorders, anxiety or chronic pain… they are seeing dramatic results from our products and that has made this so rewarding,” he said.

Startup Alleghenies helps startup and emerging small businesses succeed by providing free coaching to entrepreneurs in Bedford, Blair, Cambria, Fulton, Huntingdon and Somerset counties. To access personal, one-on-one support from a coach in your county, including guidance, resources, tools and networking opportunities, sign up at startupalleghenies.com.