Nov 30, 2011PVMI board contributes $300,000 to breeding program
The PVMI Board has agreed to a $300,000 contribution to the Tri-State University Research and Breeding Program. The money comes from royalties collected this year. Combined with two returns of $100,000 each for the previous two years PVMI has generated $500,000 for the Tri-States Research and Breeding Program during the past three years.
Since January 2006, PVMI has collected more than $1.35 million in license and royalty fees. Licensing fees account for 22 percent of the total and royalties account for 78 percent.
More than $365,000 has been collected internationally and $563,000 has been collected outside the Tri-State region.
Launched in 2005 by the three state potato commissions of Washington, Oregon and Iaho. PVMI is a nonprofit 501 (c) (3) created to handle licensing and royalty collection on Tri-State varieties.
