THIS PAPER presents the results of an economic study of farm development in Northland.* In this study, records were collected of 32 dairy farm case histories which had increased butterfat production by 105% in an average of 6 years, and 18 sheep farm case histories for which wool production increased 116% over a 7-year period. Also included are data supplied by the Lands and Survey Department on the economic outcome of two land development blocks. Before presentation of these results of phenomenal technical progress, some points about the meaning of value of development require clarification.