Letter from the President

Greetings,

There are extraordinary things happening in Dallas that have placed us in a superb position to emerge as a greater force in U.S. and global economics as the recession begins to ebb.

One wag at a recent economic seminar referred to this moment as the “pre-boom” era to the wry laughter of many the audience from less fortunate areas of the country than ours. But for Dallas and the region, good things are happening because leaders in the past had the vision to think 30 years ahead or more.

Our water needs are met today because of that thinking. DFW International Airport is a success far beyond the dreams of those who envisioned a hub for U.S. travel more than 40 years ago. Since opening it has become our port to the world and a powerful engine for global trade. And now, a long-term vision of an arts district of international reputation takes center stage, as the Winspear Opera House and the Wyly Theater open this month and media from around the world descend upon the city to marvel at the finished product and what goes on inside.

We do not understand as yet the value that this 65 acre arts district now adds to the luster of Dallas, in terms of economic impact and the dramatically improved quality of this place. It now becomes an even greater national and international jewel, for artistic expression and growth, and as a great business asset to attract new corporations and new jobs to the Dallas and the region.

As pleased as we can be at the fortunate place in which we find ourselves today, new vision is needed to think about where Dallas should be in the next 20 to 30 years. What steps should we take now to improve our place in the world of 2030 and beyond? Here is one.

On November 3rd, you will personally get a chance to do something about it. You can have an impact on the future of North Texas. You will have the opportunity to vote for Proposition 4, a Texas Constitutional Amendment which will allow the creation of additional Tier One universities in Texas. With a population of nearly 6.4 million people, North Texas does not have a single Tier One university! This is a cause to which people of vision should rally.

When passed, Proposition 4 will establish a national research university fund which allows for 7 emerging research universities in Texas to achieve specific national standards of excellence in research. And when they reach that level, great things will begin to happen. Three of the 7 emerging universities are in our region: the University of North Texas in Denton, the University of Texas at Arlington, and the University of Texas at Dallas. Research universities over and above academic achievements have proved to spin off innovative companies and are significant high paying job creators wherever they exist.

There is further good news about this election for Texas’ future. A yes vote allows funds for this State of Texas National Research University Fund to be transferred from an already existent but dormant higher education account, making education research money more readily available to assist in the Tier One initiatives of the emerging research universities.

While research is a main beneficiary, it is not the only winner in Proposition 4. Enchanced academic programs, student success and the value of a degree from a Tier 1 university also result. And from the point of view of tangible economic benefits, economists estimate that for every $10 million of research expenditures, 334 news jobs are created which in turn add $8.6 million to the local or regional economy and generates $13.5 million in local sales.

The Texas Legislature, which has given us the chance to pass this forward-looking Constitutional Amendment, has done us a great favor. Be sure to thank State Senators Florence Shapiro, Royce West and Kip Averitt for working so well with the Chairman of the Senate Higher Education Committee, Senator Judith Zaffirini. Also, please thank House Higher Education Chairman Dan Branch who authored the measure in the House along with Representatives Roberto Alonzo, Brian McCall and Diane Patrick from the Committee. In fact, please thank all members of the North Texas delegation for their leadership on this important issue.

The Dallas Regional Chamber’s board of directors has enthusiastically and unanimously endorsed support for Proposition 4. Now it is up to you to look ahead to the brighter future this can create for our city, the region and the state and to personally do something about it by voting yes for Proposition 4.

Please be sure to encourage your friends, neighbors and colleagues to be supportive as well. Early voting begins October 19th and ends October 30th with the election on November 3rd. For additional information on voting early in person or by mail, please see the Secretary of State’s website at www.sos.state.tx.us/elections/pamphlets/earlyvote.shtml.

Sincerely,



Amb. James C. Oberwetter, President
Dallas Regional Chamber