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ROI of Risk Management Education though Farm Business Management Programing in Central Utah

Kendra Bagley

Summary

Snow College has successfully received eight years of ERME grants, with each grant building on the previous year’s grant objectives. Successive Rick Management grants have increased participating farmer’s and rancher’s ability to implement Risk Management strategies in the areas of Production, Market and Financial risk which resulting increased Net Farm Income. Grant participants were asked to complete a survey of their experience in Farm Business Management and their increased management abilities. Participants response indicated that their net farm income has benefited $10,000 -$50,000 every year they’ve participated in the Farm Business Management program.

The presentation will have a three pronged focus. The first focus will be on building successive and successful grant proposals that add continuous improvement for agriculture producers in their implementation of risk management strategies. The second focus will be on dollars spent by the average Utah farm/ranch participating in Snow College’s Farm Business Management program and ERME grants projects within the local community. The third focus will be on the estimated economic return on ERME funds as participant’s evaluation responses indicate the economic benefit of Farm Business Education in their implementation of risk management strategies.

Details

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