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Center calls for $10
billion Gulf development and recovery fund
New report showcases a dozen ideas to spur restoration,
recovery after oil disaster
SEPT.
8, 2010 - The Center for a Better South today called for a new $10
billion development and recovery trust fund to help people along
the Gulf coast leapfrog forward educationally and economically following
the April oil disaster.
Development
of a new long-term trust fund is one of a dozen major ideas highlighted
in the Center's new report, "Ideas for a Better Gulf,"
released today to help to generate transformational change in a
region hit hard this year by the oil disaster and throughout recent
years by Hurricane Katrina and other storms.
"For
an area of our country with a history of poverty, health adversities
and educational challenges, we as a nation need to take this opportunity
to do better by the people of the Gulf -- to make strategic investments
to promote its long-term economic health," said Andy Brack,
president of the nonprofit Center.
"Let's
not miss this transformational chance to stimulate economic and
educational successes for the region," he said. "We hope
these ideas can generate discussions that will lead to concrete
action to help people get their lives turned around so they can
move forward in dynamic ways."
A
new $10 billion trust fund, for example, could be used for strategic
investments in projects that could have major systemic educational,
health and economic impacts throughout the Gulf coast and serve
as a source to pay for unexpected health and environmental costs
caused by the oil spill, the report said.
Seed
money for the fund could come from an initial infusion of $5 billion
from BP, followed by a continuing funding mechanism based on a percentage
of royalties already paid by all oil companies for leases and similar
agreements, according to the report.
Among
other ideas in the report:
- Creation
of a short-term presidential commission to oversee the trust and
develop a long-term plan to administer it. The commission could
be tasked to steer development and long-term recovery funds quickly
to investments to make a difference in people's lives.
-
Investment of significant resources to support a higher education
economic cluster in the Gulf to serve as a platform for tens of
thousands of high-paying, knowledge-based jobs for the future.
- Development
of a free wireless Internet platform along the Gulf coast to allow
residents to tie into economic and educational opportunities associated
with the knowledge-based economy.
- Distribution
of free educational laptops to elementary students across the
Gulf to seed the region's future workers so they can start developing
the economic tools for success they'll need in the future.
- Establishment
of a way of using technology to mobilize and link America's volunteers
to respond to needs along the Gulf coast.
To
learn more about these and other ideas, view the Center's report
online
Download
the report
View
the release
Background
The
Center for a Better South was asked in early June by U.S. Navy Secretary
Ray Mabus to "think big" about ways that could help people
along the Gulf coast recover from the Deepwater Horizon disaster
and move forward in dynamic new ways to get past historic economic,
educational, health, environmental and other challenges.
Throughout
the summer of 2010, the Center convened periodic conference calls
with thinkers across the South to consider big ideas to share.
Another
site, FYI
Since
June, the Center also has offered a daily photo blog to tell stories
about the Gulf catastrophe and recovery through moving images. Check
out the site by going to:
www.BetterGulf.org
CONTACT: Andy
Brack at 843.670.3996
The Center for a Better South is a pragmatic, nonpartisan
think tank dedicated to developing progressive ideas, policies and
information for thinking leaders who want to make a difference in
the American South.
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