A major federal natural resources program, the Forestry Incentives Program, was
evaluated. The program 's internal rate of return ranged from 8.3% to 10. 9%, depending on
which costs are included. The retention of forest practices established 8 years prior was
excellent. Evaluation challenges include dispersion of program benefits throughout the
rural United States, evaluating benefits accruing many years in the juture (75- 100 years),
and multiple-agency involvement in program administration.
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References
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