NR  Vol.5 No.12 , September 2014
Incremental Investment Value of Wild Turkey Management on the South Carolina Piedmont
Optimal timber production and healthy wild turkey populations can be jointly achieved by balancing cutting cycles, habitat types, and food sources. Expected financial returns from wild turkey management and the habitat required to maintain those returns are estimated. A geographical information system (GIS) is used to illustrate the methodology necessary to distinguish various levels of potential quality turkey habitat, including broad forest conditions across ownerships, like early successional habitat, pine hardwood mixtures, and forest openings, that intermix and combine to form superior wild turkey habitat. A financial analysis framework that considers key financial variables is applied across management regimes to determine net present values, land expectation values, and equivalent annual incomes. Incremental hunting lease revenue from wild turkey hunting leases is shown to impact investment return. The financial framework allows managers to perform sensitivity analyses of costs and revenues to better evaluate management alternatives.

Cite this paper
Hammond, J. , Straka, T. and Brown, T. (2014) Incremental Investment Value of Wild Turkey Management on the South Carolina Piedmont. Natural Resources, 5, 719-731. doi: 10.4236/nr.2014.512062.
[1]   Dickson, J.G. (Ed.) (1992) The Wild Turkey: Biology and Management. Stackpole Books, Mechanicsburg, PA.

[2]   Mitchell, M.D., Kimmel, R.O. and Synders, J. (2011) Reintroduction and Range Expansion of Eastern Wild Turkeys in Minnesota. Geographical Review, 101, 269-284.

[3]   Kennamer, J.E., Kennamer, M.C. and Brenneman, R. (1992) History. In: Dickson, J.G., Ed., The Wild Turkey: Biology and Management, Stackpole Books, Mechanicsburg, PA, 6-17.

[4]   Cubbage, F.W., O’Laughlin, J. and Bullock, C.C. (1993) Forest Resource Policy. John Wiley & Sons, Inc., New York.

[5]   Leopold, A. (1933) Game Management. Charles Scribner’s Sons, New York.

[6]   Mosby, H.S. and Handley, C.D. (1943) The Wild Turkey in Virginia: Its Status, Life History and Management. Division of Game and Inland Fisheries, Richmond, VA.

[7]   Austin, D.H. (1965) Trapping Turkeys in Florida with the Cannon Net. Proceedings of the Annual Conference of the Southeastern Association of Game and Fish Commissioners, 19, 16-22.

[8]   Georgia Wildlife Resources Division (2013) Wild Turkey Fact Sheet. Georgia Wildlife Resources Division, Social Circle, GA.

[9]   Palmer, W.E., Priest, S.R., Seiss, R.S., Phalen, P.S. and Hurst G.A. (1993) Reproductive Effort and Success in a Declining Wild Turkey Population. Proceedings of the Annual Conference of the Southeastern Association of Fish and Wildlife Agencies, 47, 138-147.

[10]   Rolley, R.E., Kubisak, J.F., Paisley, R.N. and Wright, R.G. (1998) Wild Turkey Population Dynamics in Southwestern Wisconsin. Journal of Wildlife Management, 62, 917-924.

[11]   Ruth, C. (2013) 2013 South Carolina Turkey Harvest Report. South Carolina Department of Natural Resources, Turkey Research & Management Project, Columbia, SC.

[12]   Southwick Associates (2012) Hunting in America: An Economic Force for Conservation. National Shooting Sports Foundation, Newtown, CT.

[13]   Woodward, D.P. and Guimaraes, P. (2009) Underappreciated Assets: The Economic Impact of South Carolina’s Natural Resources. University of South Carolina, Moore School of Business, Columbia, SC.

[14]   DeVos, T. (2003) Successful Turkey Management, Part 1 of 3: Pine Woodland Enhancement. Wildlife Trends, 3, 5-7.

[15]   West, B. (2005) Forest Management for Wild Turkeys, Bulletin 2033. Mississippi State University Extension Service, Mississippi.

[16]   Smith, M. (2010) Wild Turkey Management in Alabama, ANR-0512. Alabama Cooperative Extension System, Huntsville.

[17]   USDA Natural Resources Conservation Service (1999) Wild Turkey, Fish and Wildlife Habitat Management Leaflet Number 12. USDA Natural Resources Conservation Service, Washington DC.

[18]   Miller, D.A., Hurst, G.A. and Leopold, B.D. (1999) Habitat Use of Eastern Wild Turkeys in Central Mississippi. Journal of Wildlife Management, 63, 210-222.

[19]   Masters, R., Stewart, M. and Bidwell, T. (1998) Wild Turkey, Publication L-269, Forest Stewardship Wildlife Management Notes No. 3. Oklahoma State University Cooperative Extension Service, Stillwater.

[20]   Harper, C.A. (2007) Strategies for Managing Early Succession Habitat for Wildlife. Weed Technology, 21, 932-937.

[21]   Burger Jr., L.W. (2006) Creating Wildlife Habitat through Federal Farm Programs: An Objective-Driven Approach. Wildlife Society Bulletin, 34, 994-999.[994:CWHTFF]2.0.CO;2

[22]   Smith, E.T. (2007) Early Successional Habitat, Fish and Wildlife Habitat Management Leaflet Number 41. USDA Natural Resources Conservation Service, Washington DC.

[23]   Thompson III, F.R. and DeGraff, R.M. (2001) Conservation Approaches for Woody, Early Successional Communities in the Eastern United States. Wildlife Society Bulletin, 29, 483-494.

[24]   Schorger, A.W. (1966) The Wild Turkey: Its History and Domestication. University of Oklahoma Press, Norman.

[25]   Gustafson, E.J., Parker, G.R. and Backs, S.E. (1994) Evaluating Spatial Pattern of Wildlife Habitat: A Case Study of the Wild Turkey (Meleagris gallapavo). American Midland Naturalist, 131, 24-33.

[26]   Holbrook, N.T., Vaughn, M.R. and Bromley, P.T. (1987) Wild Turkey Habitat Preferences and Recruitment in Intensively Managed Piedmont Forests. Journal of Wildlife Management, 51, 182-187.

[27]   Holder, B.P. (2006) Survival, Habitat Use, and Nest-Site Characteristics of Wild Turkeys in Central Mississippi. M.S. Thesis, Mississippi State University, Starkville, Mississippi.

[28]   Felix III, A.C., Sharik, T.L. and McGinnes, B.S. (1986) Effects of Pine Conversion on Food Plants of Northern Bobwhite Quail, Wild Turkey, and White-Tailed Deer in the Virginia Piedmont. Southern Journal of Applied Forestry, 10, 47-52.

[29]   Yarrow, G. (2009) Biology and Management of Eastern Wild Turkey, Fact Sheet 35. Clemson University Forestry and Natural Resources Extension, Clemson, SC.

[30]   Larson, C.J. (2004) Modeling Forest Transition Pathways for Decision Making in Private Forestry. M.S. Thesis, University of Missouri, Columbia.

[31]   Harper, C.A. (2008) A Guide to Successful Wildlife Food Plots: Blending Science with Common Sense, Publication 1769. University of Tennessee Extension, Knoxville.

[32]   McPeake, R., Roberg, R., Self, C. and Long, D. (2010) Establishing Wildlife Food Plots, FSA 9092. University of Arkansas Division of Agriculture, Little Rock.

[33]   Billingsley, E. (2007) Planting a Wild Turkey Food Plot. University of Illinois Extension, Urbana-Champaign.

[34]   Porter, W.F., Tangen, R.D., Nelson, G.C. and Hamilton, D.A. (1980) Effects of Corn Food Plots on Wild Turkeys in the Upper Mississippi Valley. Journal of Wildlife Management, 44, 456-462.

[35]   National Wild Turkey Federation (2013) Chufa Addiction: All You Need to Know About the Food Source Wild Turkeys Can’t Resist. National Wild Turkey Federation, Edgefield, SC.

[36]   Straka, T.J. (2005) Forest Products Decisions: Comparing Investment Alternatives. Forest Products Equipment, 13, 21-24.

[37]   White, J.A., Case, K.E. and Pratt, D.B. (2012) Principles of Engineering Economic Analysis. 6th Edition, John Wiley & Sons, Inc., New York.

[38]   Clardy, R.Z., Smathers Jr., W.M. and Straka, T.J. (2012) The Incremental Investment Value of Waterfowl Impoundments in the Upstate of South Carolina. Wildlife Biology in Practice, 8, 9-19.

[39]   Verburg, E.A., Charbonneau, J.J., Mangun, W.R. and Llewellyn, L.G. (1987) The Importance of Fish and Wildlife Values to the Profession. In: Decker, D.J. and Goff, G.R., Eds., Valuing Wildlife: Economic and Social Perspectives, Westview Press, Boulder, CO, 49-59.

[40]   Bullard, S.H. and Straka, T.J. (1998) Concepts in Forest Valuation and Investment Analysis. Forestry Suppliers, Jackson, MS.

[41]   Straka, T.J., Bullard, S.H. and Dubois, M.R. (2001) Introduction to Forestry Investment Analysis, Part I: Basic Investment Characteristics and Financial Criteria. Forest Landowner, 60, 9-14.

[42]   Straka, T.J., Bullard, S.H. and Dubois, M.R. (2002) Introduction to Forestry Investment Analysis, Part II: Taxes, Inflation, and Other Issues. Forest Landowner, 61, 39-44.

[43]   Straka, T.J. and Bullard, S.H. (1996) Land Expectation Value Calculation in Timberland Valuation. Appraisal Journal, 64, 399-405.

[44]   Singleton, C.N., Straka, T.J. and Askew, G.R. (2001) Valuation of Conservation Easements on Forestland. Real Estate Review, 32, 52-58.

[45]   Straka, T.J. (2010) Financial Breakeven Point for Competition Control in Longleaf Pine (Pinus palustris Mill) Reestablishment. New Forests, 40, 165-173.

[46]   Straka, T.J. and Bullard, S.H. (2006) An Appraisal Tool for Valuing Forest Lands. Journal of the American Society of Farm Managers and Rural Appraisers, 69, 81-89.

[47]   Wear, D.N. and Greis, J.G. (2012) The Southern Forest Futures Project: Summary Report, General Technical Report SRS-168. USDA Forest Service, Southern Research Station, Asheville, NC.

[48]   Baen, J.S. (1997) The Growing Importance and Value Implications of Recreational Hunting Leases to Agricultural Land Investors. Journal of Real Estate Research, 14, 339-414.

[49]   Zhang, D., Hussain, A. and Armstrong, J.B. (2006) Supply of Hunting Leases from Non-Industrial Private Forest Lands in Alabama. Human Dimensions of Wildlife, 11, 1-14.

[50]   Straka, T.J. and Greiner, T.S. (2011) Contribution of Wildlife to the Value of U.S. Southern Forestland. Journal of the American Society of Farm Managers and Rural Appraisers, 74, 23-32.

[51]   Donovan, M.L., Robe, D.L. and Olson Jr., C.E. (1987) Use of Geographic Information Systems to Develop Habitat Suitability Models. Wildlife Society Bulletin, 15, 574-579.

[52]   Bettinger, P., Boston, K., Siry, J.P. and Grebner, D.L. (2009) Forest Management and Planning. Academic Press, Burlington, MA.

[53]   Pretzsch, H. (2009) Forest Dynamics, Growth and Yield: From Measurement to Model. Springer-Verlag, Berlin.

[54]   Timber Mart-South (2013) Timber Mart-South. University of Georgia, Center for Forest Business, Athens.

[55]   Weldon, A., Gray, R., Hoefner, F., Redlin, B. and Boshoven, J. (2010) Conserving Habitat through the Federal Farm Bill: A Guide for Land Trusts and Landowners. Defenders of Wildlife, Washington DC.

[56]   Straka, T.J., Kilgore, M.A., Jacobson, M.G., Greene, J.L. and Daniels, S.E. (2007) Influence of Financial Incentive Programs in Sustaining Wildlife Values. Human Dimensions of Wildlife, 12, 197-199.