Cotton Board Recommends $80 Million Budget for Cotton Inc.
August 17, 2020 Cotton Board members serving the Cotton Research and Promotion Program have voted to recommend Cotton Incorporated’s 2021 budget of $80 million to the Secretary of Agriculture.
The budget recommendation – which came during The Cotton Board’s recent virtual 2020 Annual Meeting – reflects a decrease in funding of over $8 million from 2020.
Even with decreased funding, the 2021 Cotton Incorporated plan and budget remains focused on several key, primary issues and addresses some immediate challenges in order to increase market share and restore long-term profitability to the industry. Top priorities include sustainability, product innovation, farm profitability, cottonseed value and lint contamination.
The Consumer Marketing Division of Cotton Incorporated will see the largest budget decrease in the 2021 plan. “Many of our research programs are less flexible in terms of stopping and restarting compared to consumer marketing programs,” said Cotton Incorporated CEO Berrye Worsham. “As such, marketing programs, particularly advertising, will experience a sharper drop than any research-related company initiatives.”
New Cotton Board Officers Elected
Jimmy Webb
Jimmy Webb, a cotton producer from Leary, GA, was elected Chairman of The Cotton Board for the 2020/2021 Program year during the organization’s Business Session. Also elected were:
- Vice Chairman – Sonja Chapman, importer from Boonton, NJ
- Secretary – Mark Nichols, producer from Altus, OK
- Treasurer – Akiko Inui, importer from New York City, NY
“It is such an honor to be elected as Chairman of The Cotton Board,” said Webb. “I know the year ahead will have its challenges as we work through the impacts of the coronavirus pandemic. Fortunately, we have managed our resources well the past several years and are well positioned to help rebuild cotton’s marketing chain.
“The Program will have to remain flexible over the next year,” he added, “as threats, opportunities, and budget-related factors are more difficult to predict at this time.”
Webb, a University of Georgia graduate, is the owner/operator of Harvey Jordan Farms where he grows cotton, corn, and peanuts. He is a past recipient of the Georgia Farmer of the Year award, former Chairman of Cotton Council International, and has served as a member on The Cotton Board since 2011.
Before passing the gavel to Webb, outgoing Chairman Jeff Posey, a cotton producer from Roby, TX, said, “Jimmy has a long record of service to the U.S. cotton industry, and he’s done an outstanding job as our Vice Chairman over the past year. His time on The Cotton Board has been marked by his willingness to engage, his thoughtful demeanor, and his passion for the work done by the Program. I am confident he will provide strong leadership and guidance to the Program during the year ahead.”
Based on information provided by The Cotton Board
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