LINCOLN, Neb. -- A professor at the University of Nebraska-Lincoln says he has a billion dollar idea for the state. He wants to turn cornhusks into clothing. It gives a whole new meaning to the words "cash crop."

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Video: This Sweater Is Corny

"This is the first time in the whole world, we can use cornhusk with benefit for future developers," said developer Dr. Yigi Yang.

Yang said he is now able to extract fiber from the cornhusk. The fiber is then spun into yarn. Yang produced his prototype in Husker red.

"Hey, this is Cornhusker Nation. If I didn't do red, I'd feel guilty," Yang said.

How does it feel? Like a mixture between cotton and linen, according to Yang.

A little husk goes a long way. For a sweater, you need about two pounds of husk. The university is trying to patent the process, and expects people around the world will be wearing clothes grown in Nebraska. The next step is to build a production plant and funding is being sought for that aspect.