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Using the New Equipment Cost Recovery Calculator Tool
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Investing in machinery and equipment often plays a critical role in scaling up small and beginning farms. For many producers, key questions are how long will it will take for a given piece of new will “pay for itself" and the impact it will have on labor.
Join this online session to learn how a new decision-support tool can help farmers and their business advisors develop careful projections of how long it will take to recover the cost of purchasing new equipment through increased labor efficiency. John Hendrickson, who developed the tool, will explain how the new Equipment Cost Recovery Calculator works and demonstrate how you can use its dedicated labor module to estimate changes in labor needs and costs. The session will include ample time for Q&A.
About the Presenter:
John Hendrickson coordinates research and outreach programs in organic and sustainable specialty crop production, marketing, and profitability at the Center for Integrated Agricultural Systems at the University of Wisconsin-Madison. He is passionate about farm viability as it relates to farm scale, livelihood, labor, and equipment. He has developed and manages a suite of decision support tools that help producers calculate their cost of production and measure profitability by crop and market channel. John also formerly owned and operated his own certified organic vegetable farm for 15+ years.
The session is hosted by the Farm Labor Dashboard, University of Vermont Extension, and the University of Wisconsin Center for Integrated Agricultural Systems with support from the USDA National Institute of Food and Agriculture, Northeast Extension Risk Management Education and Northeast Sustainable Agriculture Research and Education Program.