The Teacher Retraining and Directed Exchange (TRADE) project was conducted during the 1984-85 school year at five vocational schools in Ohio. During this period, a total of six teacher-employee exchanges were conducted with large and small businesses and industries. An evaluation of the project showed that, generally, the cost of implementing Project TRADE was low. Benefits were described by project participants for teachers, students, industry employees, and schools. Usually, these benefits were related to the attitudes, knowledge, and skills of employees, teachers, and students. The evaluation suggested that complete agreement by the business/industry (B/I) employee was necessary for success. The study also found that although some preservice teacher training was provided for B/I exchange employees, almost all indicated more preservice training time should be given. Teachers who participated in Project TRADE experienced a range of "hands-on" experiences and observations and learned about the latest technology used in their teaching areas. All of the teachers indicated after participating in TRADE that they were confident in their ability to teach about new technical equipment and processes. Recommendations were made for teacher selection, preservice education for exchange employees, selection of B/I employees, Ohio State Department of Education guidelines, goals clarification, information dissemination, and administration of the project. (KC)