Funding from the Texas Legislature provides the base of support for the Cotton Economics Research Program at Texas Tech University. This funding, while not the major source of funds, is critical to the program because it gives the means to leverage faculty and student time and secure funding from industry and government sources. With this support, Texas Tech has built, and continues to build, a center of excellence in cotton economics research that is valuable to the State of Texas and the Texas cotton industry. The overall program is administered by the College of Agricultural Sciences and Natural Resources, through the Department of Agricultural and Applied Economics. A Cotton Economics Research Institute was approved in 1997/98, and is being activated in 1998/99. The Institute is housed in the Department, under the administration of the Dean's Office. The program uses an Advisory Committee (see Appendix A) to assist with keeping the program focused on issues relevant to the State and the cotton industry. The committee members represent different industry segments and other research groups, and they give advice in the administration and management of the program.