Cost-effectiveness of the 1979 Forestry Incentives Program.

In 1979, the Forestry Incentives Program increased the productivity of nonindustrial private forests by encouraging landowners to manage more intensively than they otherwise would. The increase will amount to almost 1.3 billion cubic feet of timber over the first rotation. Investments by the federal government and landowners will return about 8.6% above inflation. Federal taxes these owners will pay on their additional timber income have a present value of over $2 for every dollar expended through the program. -Authors