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This report by the International Institute for Sustainable Development (IISD) evaluates the costs and economic benefits of 10 water retention projects implemented between 2014 and 2020 in the Seine Rat Roseau Watershed District of Manitoba. The analysis finds that for livestock producers, the average benefit-cost ratio is 3.16, with benefits including improved water quality, extended grazing, and reduced operational costs. While most projects showed a positive return on investment, those on crop-only farms were more likely to have costs outweighing benefits due to high upfront construction expenses.