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Purdue HortCalculator: An Online Financial Analysis Tool for Supporting Farmers' Investment Decisions in Biological Controls

Ariana Torres and Juliano Marques

Summary

This presentation will share results from our NCR-ERME funded innovative project developing and implementing HortCalculator, an online financial analysis tool designed to assist leafy greens farmers in making informed investment decisions about biological pest control strategies. The tool addresses a critical need identified by over 80% of farmers who cite lack of access to economic information as a major barrier to farm profitability.

Through collaboration between Purdue University and a farmer advisory board from three North Central states, we developed a TurboTax-style website that generates farm-specific financial analyses including profitability metrics, cost structures, sensitivity analyses, breakeven points, benefit-cost ratios (BCR), and return on investment (ROI) calculations. The presentation will demonstrate how HortCalculator helps farmers assess the economic feasibility of investing in biological controls and other sustainable farming technologies.

Key findings to be presented include 1) analysis of cost structures and profitability metrics from participating farms implementing biological controls versus conventional pest management, 2) comparative ROI and BCR data for biological control adoption across different farm sizes and market channels, 3) user feedback on tool effectiveness for financial decision-making, and 4) impact metrics from beginning and current leafy greens farmers who participated in the program's workshops and webinars.

Beyond the tool itself, we will share insights from our comprehensive educational program, which included son workshops, monthly webinars, online curriculum, and a detailed guidebook. Results demonstrate how improving farmers' access to financial analysis tools and training can enhance their ability to make sound investment decisions, manage production risks, and develop effective pricing strategies. This work has significant implications for supporting the economic sustainability of leafy greens production while promoting environmentally friendly pest management practices. The presentation will conclude with recommendations for expanding the tool's application to whole-farm economic feasibility analyses and other specialty crops.

Details

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