National Egg Checkoff Program Delivers Nearly One Billion Dollars in Incremental Value Annually
(Chicago) January 31, 2023 – New economic research conducted at Cornell University shows the American Egg Board (AEB) delivered $10.11 in industry-wide net revenue for every checkoff dollar invested by America’s egg farmers from 2017-2021 — totaling nearly a billion dollars in incremental value annually or $4.57 billion for that total time frame. The results represent more than a 10 percent increase over a previously reported return of $9.04, which only accounted for consumer-focused initiatives.
Conducted by Cornell University professor of economics Dr. Harry M. Kaiser, the economic analysis accounts for total market impacts of the AEB’s domestic and international marketing and research activities and determines the net economic benefits for U.S. egg producers funding the program.
“I am incredibly proud to report that the faith and hard-earned dollars America’s egg farmers have invested in the American Egg Board have been well placed,” said Emily Metz, president and CEO of the AEB. “This data captures the full scope of the AEB’s work for the first time in its 47-year history.”
To determine the market impacts of the AEB’s activities, an econometric model of the U.S. egg industry was developed from quarterly national market data and measured six program areas, including advertising, non-advertising promotion, channel marketing, nutritional research, nutrition education and foreign market development.
Dr. Kaiser’s conclusions of the analysis include:
- The direct effect of the AEB on the U.S. egg sector created an additional $914 million per year in total revenue to egg producers.
- The direct effect of the AEB, adding an incremental $914 million to the egg-industry, had positive spillover effects to the general economy in 2021, including increasing:
- U.S. employment by 12,396 people and employment income by $735 million.
- $1.2 billion in value added to the U.S. economy
- U.S. Gross Domestic Product by almost $3.5 billion.
- The existence of the AEB increased tax revenue at the federal, state, and local levels by $267 million in 2021.
- All six AEB marketing and research activities had a positive and statistically significant impact on egg demand.
- The marketing/research activities increased total egg commercial disappearance by 5.4% relative to what it would have been in the absence of the AEB marketing effort.
For more information, visit IncredibleEgg.org/ROI.
Representatives from the American Egg Board are available for media requests and interviews.
For media inquiries, contact: Marc Dresner, (847) 296-7043, firstname.lastname@example.org.
About the American Egg Board (AEB)
Home of the Incredible Egg, the AEB is the U.S. egg industry’s national commodity marketing organization. The AEB’s mission is to increase demand for eggs and egg products through research, education and promotion. The AEB is located in Chicago, Ill. For more, visit IncredibleEgg.org