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.
For the first time in at least five years, retired teachers, state workers and school system employees could see an increase in their pension checks.
Lawmakers and Gov. Bobby Jindal's administration shared a collective sigh of relief with the news that Louisiana's tax amnesty program brought in the $200 million that they used to help balance this year's budget.
Drew Brees often makes the extraordinary look routine, particularly during night games in the Superdome.
The teams were extended invitations Sunday for the New Year's Day matchup played at Raymond James Stadium, home of the NFL's Tampa Bay Buccaneers.
Here's your daily look at late-breaking national and international news, upcoming events and the stories that will be talked about Monday, December 09, 2013:
If all 44 projects are approved, about $300 million would remain in the fund set up as a down payment to help the Gulf.
Last week, the Saints gave up 429 yards to Seattle, second most in a game this season.
Since Anthony Jennings and Brooks Haack were not expected to contribute until next year at the earliest, it seemed like a sneak peek at hidden Christmas gifts.
Louisiana National Guard personnel seeking benefits for same-sex spouses will have an easier time filing the requests, despite a state refusal to let its workers process the paperwork.
Panthers coach Ron Rivera sees one potential flaw with his team's stellar defensive play so far this season. "Apparently we like to bite on the double moves," Rivera said.
Computer hackers may have gained access to the personal information of thousands of Louisiana residents who use debit cards issued by JPMorgan Chase for three state agencies, authorities said Wednesday.
Jim Purcell, who has been in the job since February 2011, notified the Board of Regents about his decision at its monthly meeting.
Hushed plans for a commercial development along the Louisiana Avenue portion of the Holy Rosary campus put the future of longtime tenant EarthShare Gardens in jeopardy.
If a recent advertisement in The Daily Advertiser is any indication, speculation the local daily will be implementing the “Butterfly Project” could be more of a reality than the Gannett-owned paper’s top execs are willing to admit.
Mettenberger injured his left knee while unloading a 32-yard completion in the fourth quarter of No. 14 LSU's 31-27 victory over Arkansas last Friday, and LSU coach Les Miles confirmed the severity of the injury on Wednesday.
An ordinance to phase out a 2 percent rebate to Lafayette merchants for collecting and remitting on time sales taxes cleared the City-Parish Council by a 6-3 vote.
Louisianans are the fourth most likely to use profanity yet also the fourth most likely to be courteous. So, please, just kiss my a** ... if it’s not too much trouble.
The state Coastal Protection and Restoration Authority voted Tuesday to authorize two lawsuits against the U.S. Army Corps of Engineers.
A long night on the field in Seattle got even worse off of it, and now the Saints are operating on a compressed time-frame as they brace for surging Carolina with first place in the NFC South at stake.
Public school letter grades, teacher evaluations and student promotion won't be affected by Louisiana's shift to more rigorous educational standards for two years, the state's top school board decided Tuesday.
Vitter told The Associated Press that he is sending an email to supporters Wednesday and is in discussions with his family about the possibility.
The Ragin' Cajuns go for New Orleans Bowl three-peat, this time against the Tulane Green Wave, which is making its first postseason appearance since the Hawaii Bowl in 2002.
Louisiana has joined four other states in filing a so-called “friend of the court” brief in support of Mississippi’s lawsuit against the federal government over new flood insurance rates set to go into effect.
Kerry Wayne Bertrand was charged Monday for the alleged killing of his stepdaughter, Skylar Lee Credeur, a UL Lafayette chemistry major found dead in the bathtub of her family home in August.
Louisiana's state school board is considering a two-year delay for some consequences tied to the phase-in of more rigorous educational standards, called Common Core, at public schools.