To Fund or Not to Fund: Assessment of the Potential Impact of a Regional Promotion Campaign
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This paper develops a framework for assessing the potential economic impact of a regional
promotion campaign combining contingent valuation methods with a partial displacement
equilibrium model. The proposed approach is applied to the evaluation of the potential
economic impact of the locally grown campaign in South Carolina. Results reveal that the
first season of the promotion campaign increased consumer willingness to pay for produce
by 3.4%. The change in consumer preferences and the corresponding shift in demand
increased producer surplus by $3.09 million. This economic benefit, combined with the
2007 promotion campaign investment, resulted in a benefit-cost ratio of 6.18.