LAFAYETTE, L.a — The Research and Development team at UL is breaking records in investment expenditures with the most recent yearly total at $164 million.
A spokesperson for the university told KATC that this is a 165 percent increase within the last seven years.
Brittany Licour Deal, manager of strategic analysis at LEDA, said UL's research only adds to the university's impact within the community, noting that for every million dollars spent, six jobs are created.
"In UL's case that would be about 164 million dollars in research and development investments," Licour Deal said. "Which can support about 937 jobs right here in Lafayette Parish."
Licour Deal said these jobs span across all areas of commerce - from scientific research, to retail, to agriculture.
Dr. Ramesh Kolluru is the Vice President of Research Innovation, and Economic Development at UL. He told KATC he believes the university approaches things differently when it comes to choosing what to invest in.
"We focus really heavily on taking that research that we do and working with business and industry and translating that in ways that can help our businesses in Louisiana create new products, offer more services, become more profitable, hire more folks," Kolluru said. "While at the same time, trying to recruit new business and industry."
Regarding future projections, Licour Deal said she understands how someone on the outside looking in could be skeptical of the jobs this research brings in, as concrete numbers can be difficult to track.
"Any time innovation is involved and the creation of innovation and creating new streamlined processes and new thoughts and new developments, that's always a positive for the economy," she said. "And those types of things always lead to the possibility of new jobs."
Kolluru told KATC that UL's investments in this research are a major draw to the best, brightest, and most hardworking job seekers - which he says makes them all the more excited to live, work and play in Acadiana.
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