I'm encouraged by that amount of money and that funding, as well. I know that the hog industry is very innovative. We're very quick to adapt new technologies. We're hoping to access part of those funds.
Our biggest challenge right now is that since 2005 there has been very little capital reinvestment in our industry. If you look at the industry, for example, from a processing and retail point of view, you see they reinvest capital at a rate of about 15% per year, which is normal. In the hog industry, because of the financial crisis we suffered from, especially in 2008-09, and not having the liquidity to do so, our reinvestment of capital since 2005 has been almost nil, around 4%, which is very little.
Now, we're in an industry that requires itself to be renewed and reinvested every 20 to 25 years, which means that we need to invest heavily in capital, in existing infrastructure to replace aging equipment today. We love the innovation program. We're adapting new technology. We'll access all the programs that we can.
However, we still have the issue of an industry where 75% of the bricks and mortar that support the economic contribution we make to the country need to be replaced within the next eight to 10 years. That's our single biggest challenge right now.