by Dawn Fleming
Special to the Tri-State Defender

The statistic is alarming: Memphis ranks 48th out 51of the largest metropolitan areas in percentage of the population with a college degree.

That means that less than one in four (23.7 percent) Memphians holds a college degree.

Determined to alter that stat for the community’s betterment, Leadership Memphis and CEOs for Cities Wednesday evening announced the formation of the Memphis Talent Dividend: College Attainment Initiative.

The objective is to increase the number of college graduates by one percentage point, resulting in a talent dividend in excess of $1 billion.

Leadership Memphis is leading the development of this college attainment initiative in the Mid-South area.

Mayor A C Wharton Jr. was among the high-profile supporters on hand or who sent representatives to the Wednesday announcement.

 “We all know that job growth is the last to recover after a recession….All you have to do is go through any neighborhood in our great city to know that people are still hurting, and not working and losing their homes and  even worse losing hope, and it doesn’t have to be this way,” said Wharton.

“And tonight we are going to hear about one truly powerful obtainable solution to one of our problems. Education is the essence of human capital. Human capital is the oxygen that revives the city. As monetary capital revives a falling economy, education is intellectual capital,” he said.

“It becomes emotional capital, and that’s the most precious kind of all. It is important to invest in people.”

Dr. Johnnie B. Watson, president of The LeMoyne-Owen College, said, “It is without reservation that I endorse this college initiative.”

Dr. John Smarrelli, president of Christian Brothers University, said, “We can’t just begin this in freshman year of college. We have to start in pre-K and Head Start so they are prepared.”

In adding his endorsement, Dr. Bill Troutt, president of Rhodes College, said, “Strong colleges translate into strong communities. We endorse it heartily.”

Jim Boyd, president of BRIDGES, said his group was committed to the collaboration.

Regina Walker, senior VP Community Impact, United Way of the Mid-South, said, “This is not a project. This is a movement.”

Carol Coletta, president and CEO of CEOs for Cities, followed Wednesday’s announcement with a presentation on the talent dividend.