Production of marketed commodities and protection of natural systems often conflict. A focus on only one goal can result in large losses in other goals and may result in inefficient and unsustainable outcomes. In this paper, we develop a method that combines economic and ecological models in a dynamic and spatial analysis to evaluate land use decisions and find cost-effective alternatives for which it is not possible to do better on one objective without harming another objective. The method is demonstrated using timber production and species conservation on a forested landscape over a 100-year planning horizon. Current land use strategies are simulated and compared with cost-effective alternatives. The approach is compared to a static reserve approach, similar to previous studies, and found to produce substantially more efficient management strategies for the case study landscape.