Completed Project Report


Evaluating the Financial Risks and Benefits of Technology Adoption in New and Existing Dairy Business Models

  • Award Amount: $47,588
  • Regional Center: Northeast Extension Risk Management Education Center
  • Grant Program: 2009 Unrestricted Risk Management Education
  • Project Director:
  • Email: bhilty@psu.edu
  • Organization: Pennsylvania State University

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Project Overview

This project addressed the financial risks and benefits that dairy producers must adequately evaluate to make sound decisions in adopting technology, including modern milking parlors, forced-air ventilation systems, biogas digesters and robotic milking systems. Many Pennsylvania dairy farms are operating in obsolete facilities, facing future labor problems or dealing with environmental issues in disposing of their manure. As these operations move forward to modernize, expand, or deal with environmental and/or labor concerns they must evaluate the financial risks and benefits of adopting any technology needed to change their business model. As a result of participating in this project: 5 producers who have adopted a new technology conducted an economic analysis of it and 56 of the 170 producers who participated in the webinar series indicated that they improved their knowledge of how to evaluate and use new technologies. The use of webinars for education allowed for participant interaction and thorough discussion of the technologies presented.

Number of Participants: 175

Outcomes

Project Steps

PROMOTIONAL MATERIALS

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EDUCATIONAL MATERIALS

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REPORTS & EVALUATIONS

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DELIVERY AREA

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