The Cotton Board Recommends $70 Million Cotton Incorporated Budget to Secretary of Agriculture
Cotton Incorporated Develops Company-Wide Initiatives and New Cotton Board Chairman and Officers Elected
(MEMPHIS, Tenn.) – During its Annual Meeting in Phoenix, Arizona The Cotton Board reviewed and voted to recommend Cotton Incorporated’s proposed 2017 budget of $70 million to the Secretary of Agriculture. The Cotton Board also elected new Officers for the 2016/2017 Program Year.
The $70 million budget and Research and Promotion Plan for 2017 will be utilized by Cotton Incorporated to focus on four major initiatives across all departments within the organization as follows: 1) Concentrate resources to improve cotton's share in the active/performance market; 2) Highlight cotton's naturalness; 3) Create more comparative marketing for cotton versus synthetics; and 4) Amplify cotton's messages by engaging with other U.S. and global cotton organizations. The 2017 budget represents a $6 million decrease from 2016, necessitated by overall reductions in assessment revenue. As a result, Cotton Incorporated conducted a complete review of all key programs to confirm priorities and ensure efforts are concentrated on activities with the greatest potential impact on producer returns and market demand.
The budget and plan, along with The Cotton Board’s recommendation of approval, will be forwarded to the United States Department of Agriculture (USDA) for final approval.
During its Business Session, The Cotton Board elected new officers to guide the Program, including Janet Ydavoy (pictured above) to serve as Chairman for the 2016/2017 Program year. Ydavoy is a cotton importer from Portsmouth, NH.
Ms. Ydavoy is Senior Director of Supply Chain for Garnet Hill in Exeter, NH. Prior to her work at Garnet Hill she was VP of International Operations & Customs Compliance at Jones Apparel Group in Bristol, PA. Ms. Ydavoy has over 30 years experience in international trade, importing, sourcing, production, product development, customs and trade compliance.
Ydavoy commented on her election, saying, "I am honored to be serving as The Cotton Board's Chairman. The Cotton Research and Promotion Program has a fifty-year history of success and a clear mission, to increase the demand for and profitability of cotton. As we move into a year with decreased budgets, I welcome the opportunity and challenge of guiding the organization in its continued pursuit of that mission."
Before passing the gavel to Ydavoy, outgoing Chairman Aaron Barcellos, a cotton producer from Los Banos, California, said " Janet's service to The Cotton Board spans more than 10 years and during that time she has made a significant positive impact on our board. Janet has done an outstanding job as our Vice Chairman over the past year. Her time on the Cotton Board has been marked by her dedication, her professional and thoughtful demeanor, and her passion for the work we do. She will provide strong leadership and guidance to the Program."
The full slate of newly elected Cotton Board officers is as follows:
Janet Ydavoy, Importer from Portsmouth, New Hampshire, Chairman;
George LaCour Jr., Producer from Morganza, Louisiana, Vice Chairman;
Peter McGrath, Importer from Dallas, Texas, Secretary; and
Jeff Posey, Producer from Roby, Texas, Treasurer.
Contact: Stacey Gorman, Director of Communications (870) 226-1445
About The Cotton Board: The Cotton Research & Promotion Act established the Cotton Board as a quasi-governmental, non-profit entity to serve as the administrator of the Cotton Research & Promotion Program. Funded by America’s cotton producers and importers through the cotton check-off, the Program’s research and promotion activities are conducted worldwide by Cotton Incorporated, the Cotton Board’s sole-source contracting organization, to increase the demand for and improve the market position of cotton. The Cotton Research & Promotion Program continues to work in all areas of cotton’s pipeline – from the field to the consumer – to keep cotton the number one fiber choice in the U.S. For more information about the Cotton Board and the innovative activities stemming from the Program, visit www.cottonboard.org.