Covering Louisiana

Jun 19, 2014 5:43 PM by associated press

Jindal signs bill creating WISE incentive fund

Gov. Bobby Jindal has signed into law his top education initiative from the legislative session, the creation of a higher education incentive fund tied to workforce needs.

The Workforce and Innovation for a Stronger Economy Fund, or WISE Fund, will pump new money into engineering, technology, research and other high-demand programs, tied to available jobs and projected workforce demand.

Jindal and lawmakers set aside $40 million for the effort, though $3.5 million is earmarked to specific programs. The Board of Regents will have final say over which campuses get the remaining money, based on recommendations from a newly-created council.

Schools have to put up a funding match.

The governor signed the bill Thursday at an event with higher education leaders.

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House Bill 1033 can be found at www.legis.la.gov

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