Investing in the Stone Industry
A check-off program is a federally approved program “Research and Promotional Board” that generates funding to assist a specific industry. Some examples include: National Dairy Board (Got Milk? ®), Cattlemen's Beef Board (Beef. It's What's for Dinner®), and Cotton Board (The Fabric of Our Lives®), plus several more.
How would this program benefit the Natural Stone Industry?
- Provide industry funds to promote natural stone and increase demand through advertising, consumer education, and market research
- Strengthens natural stone’s position in the marketplace by maintaining and expanding markets
- Prevent “free riders”— everyone contributes
- Build consistent product presence
- Fund industry product and development research
- Industry-wide mechanism to communicate the superiority of natural stone and other key marketing messages.
- Increase long term economic growth of all sectors of the industry
- Gives the natural stone industry the resources to grow its market share
Quick Review of the Numbers
- Proposed Industry Assessment: ½ of 1% (.005)
- Anticipated Annual Revenue Forecasted: $16 million
- Percentage of Revenue from Imported Stone: 85.8%
- Percentage of Revenue from Domestic Stone: 14.2%
Return on the Investment: $8-10 generated for every $1 spent (data based on annual reports generated by industries that have an existing check-off program).
Click here to learn more about:
- Details about the Natural Stone Research & Promotional Board
- Examples of how the assessment will impact stone companies
- Examples of how the money will be used to benefit the natural stone industry
- And other frequently asked questions.