In times of uncertainty, one thing that U.S. pork producers can bank on year after year is the investment they make through the Pork Checkoff in science- and technology-based research.
“Our long-term focus on research, education and the sharing of information has continued to pay off,” said Karen Richter, National Pork Board president and Montgomery, Minn., producer. “The ongoing investment in the Checkoff has provided us with solutions that contribute to a stronger pork industry.”
From a financial perspective, Checkoff funds allocated to research in science and technology don’t work alone. The investment draws outside funding from sources such as land-grant universities and allied industry.
A Multiplying Effect
To determine the return on investment in research made by America’s pork producers during a multi-year period, the Checkoff reviewed science and technology projects funded from 2006 to
2010, which is the latest time period available for analysis. The Checkoff contacted researchers who worked on the projects. More than 80 percent of the 267 who were reached offered feedback on 389 Checkoff-funded projects.
The results showed that for every dollar of Checkoff investment, nearly two additional dollars were drawn from outside sources to help find solutions to mutual challenges that face the industry.
Specifically, the $23.7 million invested in research from 2006 to 2010 directly resulted in more than $46.6 million of additional research – an increase of 97 percent in additional research value that benefited producers.
An Ongoing ROI
Sometimes the Pork Checkoff’s role in funding research projects isn’t readily apparent. This is especially true when research is applicable, scientifically sound and builds the foundation for research that results in production efficiencies.
Results from Checkoff research give vital information to help veterinarians, nutritionists, production managers and other specialists that provide services to producers every day. This is critical to finding solutions to new challenges.
“The ongoing flow of information and science-based data from Checkoff-funded research helps meet the demand for practical on-farm solutions,” Richter said. “At the end of the day, it’s about
getting the maximum return on pork producers’ investment– and we’ve got a good track record of achieving that goal.”