Cole Gustafson, professor of agribusiness and applied economics and the Extension Service biofuels economist, has been named chair of the Department of Agribusiness and Applied Economics at NDSU.

Ken Grafton, dean of the College of Agriculture, Food Systems, and Natural Resources and director of the North Dakota Agricultural Experiment Station, made the announcement.

"Dr. Gustafson brings a wealth of leadership experience, intimate knowledge of teaching, research and Extension work and a strong desire to have the department recognized for its importance to the state's agricultural industry," Grafton said.

Gustafson's original research focused on developing financial management strategies for farms, ranches, agribusinesses and agricultural lenders. Recently, he led several projects geared to creating new biofuel production facilities in North Dakota. He has written more than 47 peer-reviewed journal articles and has obtained more than $1.5 million in grant funding.

"I am excited to serve as chair because our research/Extension programs and demand for students are both growing very rapidly," Gustafson said. "We have recruiters pleading for more graduates from our program. With respect to research and Extension, recent volatility in both commodity and energy markets, as well as widespread adverse weather across the state, has created a strong demand for our department's economic, planning and forecast information."

Gustafson earned his bachelor’s degree in agricultural business and master's degree in agricultural economics from the University of Minnesota, and a doctorate in agricultural economics from the University of Illinois.