Estimating the returns on investment of a Cooperative Research Centre: the case of the Invasive Plants CRC.

To achieve funding for renewal a Cooperative Research Centre (CRC) is required to demonstrate that it will meet a number of key economic criteria. In particular, a CRC must show that it will contribute substantially to Australia’s economic growth and provide a suitable return on invested funds. An economic analysis was undertaken to provide support to a renewal bid by the proposed Invasive Plants Cooperative Research Centre (IPCRC). This analysis indicates that such an investment in weeds research generates a benefit to the Australian economy of $2,071m over 25 years, and generates a high return on investment with a benefit-cost ratio of 56:1.