Mayor Jim Newberry, speaking before the 275 attendees of Commerce Lexington's 69th annual Leadership Visit in Austin, Texas, called on the Urban County Council to approve his proposed Lexington First scholarship program. The program would first focus on supporting the higher educational ambitions of students majoring in fields of science, technology, engineering and math (STEM.)
With all members of council in the audience, Newberry said "If you look at STEM employees, there are huge wage differentials. STEM majors are important to our healthcare industry." The mayor noted that Kentucky does not fare well in the number of bachelors and masters degrees it is producing in these fields.
"Where do we go from here," the mayor asked. Noting that the city receives 83 percent of its revenues from payroll taxes, Newberry pointed out that the Kentucky constitution prohibits enactment of a local sales tax to supplement city costs.
"We have to have a lot of high paying jobs in our economy if we want to maintain our quality of life. Quality of life depends on quality Urban County Government services. Quality Urban County Government services depend on revenue. Those revenues depend on a vibrant economy. A vibrant economy continues to depend on our horse industry, healthcare and high tech. Last but not least, attracting and retaining the creative class depends on a high quality of life."
Stating that "Lexington is remarkably well poised" to seize opportunities to enhance its future Newberry prevailed on council members to fund the first phase of the proposed scholarship program.
"Why now," he asked. "Because we have great educational leadership in Lexingotn right now and we need to capitalize on it while they're there." He listed UK and Transylvania presidents Lee Todd and Charles Shearer and Schools Superintendent Stu Silberman, urging the audience to recognize that they "won't be around forever."
The proposed Lexington First scholarship program is aimed at spurring key economic development in Fayette County with tuition scholarships focused on science, technology, engineering and mathematics (STEM) disciplines. Graduates of all public and private high schools in Fayette county whose grade point averages meet college admission requirements would be eligible. The actual award would be a need-based, last-dollar scholarship intended to cover the cost remaining after a family's expected contribution and all other available financial aid have been taken into account. Students who choose to attend more expensive institutions would receive up to the equivalent of the average in-state tuition at a four-year public institution. The mayor proposes to invest $250,000 in public funds in the first phase of the program and is seeking a matching pledge from the corporate community.
Future phases of the scholarship program would expand to provide assistance to high school graduates interested in major in such non-STEM fields as political science, the arts and humanities and law.
Members of council discussing the proposed program while in Austin said many questions remain and note that the 2009 budget is extremely tight entering a new fiscal year characterized by difficult economic conditions that continue to drain revenues from local government treasuries.
The mayor also noted that his administration is studying the feasibility of a light rail system that would link Lexington's university campuses and is seeking to support the development of the arts as well as the growth of a downtown entertainment economy offering a variety of options to an increasingly diverse community.
Tom Martin is also blogging about his experiences in Austin. You can read his blog by clicking here.