Consider a half-cent sales tax, dedicated to educators' salaries ' but only through endowed funds. Eighty percent would go to the Community Foundation for K-12 education, 20 percent to the UL Foundation.
Consider UL, which gets a 40 percent state match. UL could find donors for further matches: $300,000 from taxes, $300,000 from donors, $400,000 from the state ' a $1 million chair, yielding $50,000 a year.
But universities generate a seven-fold multiplier. So $300,000 in taxes gives $50,000 a year. So $50,000 times seven generates $350,000 ' an immediate profit. But while each $300,000 is a one-time investment, the corresponding $350,000 per year is generated in perpetuity.
Next, consider that better faculty generate intellectual property, grants funding and support for local industry. They also recruit more students, who swell enrollments, another immediate impact. But those students provide a continually growing resource for infrastructure, leadership, and entrepreneurship, in the pivotal fields of technology, education, medicine, business, culture and tourism.
Now modify the model for our schools. First, three-fourths of the invested 80 percent (60 percent of the total) might supplement salaries for all teachers. The other one-quarter (20 percent) is leveraged against donations. With sliding scales based on the school lunch program, donors would give 30 to 60 percent matches for naming rights of a K-12 chair. These matches produce endowments of $200,000-250,000, augmenting superior teachers' salaries $10,000 to 12,000 a year. Private schools could also be eligible for this chair match program. The matches and multipliers here are smaller; it might take five to 10 years for yields to exceed investments. But thereafter, the funds generate ever-increasing returns into the economy, far above what they take in.
With growth in perpetuity.
But the benefits precede salary increases: the very best teachers across the U.S. know that they could enjoy ever-increasing salaries in Lafayette, even more so if they merit a chair.
Better schools will help us recruit better employees and industries, further growing our economy, producing even more taxes for government and schools. This plan will also increase our funding under the Minimum Foundation Program, further enhancing Lafayette.
Lafayette Police have had a busy day.
Gov. Bobby Jindal's administration will use $130 million in patchwork financing from a tax amnesty program, insurance settlement, uninsured motorist penalties and other excess funds to close most of the state's midyear budget deficit.
Democratic U.S. Sen. Mary Landrieu said she disagrees with President Barack Obama's actions on immigration, hoping the latest controversy doesn't worsen her campaign difficulties.
Gay-rights advocates challenging Louisiana's same-sex marriage ban announced Thursday that they have asked the U.S. Supreme Court to review their case before it is heard by a federal appeals court.
Thinking himself the “son of God,” the man charged with the 2013 killing of an officer of the Chitimacha Tribal Police will not stand trial following a ruling Thursday on his mental competency.
Either Saints coach Sean Payton doesn't want to tip Baltimore off as to who'll start in New Orleans' secondary on Monday night, or he really doesn't know yet.
Friday's Blogs from the Bog!
Ten departing CEOs rake in $430 million; profile of FSU gunman emerges; Buffalo's weather woes and more national and international news for Friday, November 21, 2014.
The Ethics Board gives the lame duck Youngsville mayor permission to offer a sweet parting gift to the community he’s presided over for three terms.
The money came through a general obligation bond sale Thursday.
A legend in the Acadiana Oil Patch, Comeaux died Monday, Nov. 17.
With a growing number of alleged sexual assault victims coming out against Bill Cosby in recent weeks, upcoming projects have been canned by NBC and Netflix, but that won’t affect the once-loved comedian and actor’s scheduled performance in Lafayette.
The Baltimore Ravens' retooled secondary had no trouble against a rookie quarterback at home. This week, however, their task is far more challenging: stopping Drew Brees on the road in New Orleans.
Add Texas Gov. Rick Perry's name to the list of possible Republican presidential candidates flooding the campaign trail for GOP Senate candidate Bill Cassidy.
Gov. Bobby Jindal is in Florida this week with his fellow Republican governors for another gripe session aimed at their favorite target, the president, this time taking aim at his immigration plans.
Early voting for the runoff is shortened by two days because of the Thanksgiving holiday.
“Coach Don” Gagnard is running for school board. Today he offers his critique of the socioeconomic relationship between government subsidies and obesity.
Former Le Rosier chef who cooked at the James Beard House and was named one of the “Best New Chefs in America” by Food & Wine magazine in 1995 was 48.
Pat Cooper is contesting his termination by the LPSB, filing a petition Tuesday that calls the recent decision “arbitrary and capricious.”
A look at the numbers highlights the challenge facing Louisiana Sen. Mary Landrieu as she tries to win a fourth term in a Dec. 6 runoff against Republican Rep. Bill Cassidy.
Incoming Senate Majority Leader Mitch McConnell is promising the new Republican majority will quickly resurrect Keystone XL pipeline legislation killed by Democrats, potentially setting up an early 2015 veto confrontation with President Barack Obama.
A national animal rights group has been rebuffed by a Baton Rouge district court judge, although the group might still get its day in court.
The administration says public college campuses won't be on the chopping block.
The legendary musician is performing at a $1,000-per-person fundraiser Dec. 1 in New Orleans.
Old savings and checking accounts, payroll checks, stocks and dividends, insurance proceeds, oil and gas royalty payments and other unclaimed money is sent to the state when a business cannot locate someone.