In 1998, Dow AgroSciences and Zeneca proposed a study to compare the economics of a conventional cotton program with a Bt cotton program. The study would compare the costs of insect control, application, and technology fee with yields. Sites were selected throughout the South, with special emphasis on the Delta because of its high insect pressure and complex of worm species. Thirty-one consultants completed the trial and their data is presented here. Input costs were higher in the conventional cotton ($110.43/acre vs $85.80/acre) but the yield was higher. This extra yield (37 lbs of lint) provided an additional $27.75/acre. This additional yield provided an advantage of $3.12/acre for the Tracer/Karate Z program. In conclusion, in a year of heavy insect pressure, the Tracer/Karate Z program on conventional cotton provided a higher return than Bt cotton.