The plan that would create the Workforce and Innovation for a Stronger Economy, or WISE fund, passed through the Louisiana House Appropriations Committee on Monday and is now headed to the House for consideration.
House Bill 1033 creates the WISE plan, which will provide funds, drawn from a $40 million allotment, to state institutions that get industry corporations to match 20 percent of the cost of the science, technology, engineering and mathematics programs they are trying to grow.
Stephen Barnes, director of the Division of Economic Development, said should the bill be passed, the University would have a good chance of receiving support for STEM programs from the WISE fund.
Barnes said the fund is designed to help grow academic programs not meeting the market demand.
The Advocate reported the bill is not expected to face a lot of resistance with the legislature because it has the support of Gov. Bobby Jindal and the state’s higher education institutions.