The state will commit $30 million in capital outlay funds to construct a new complex for the E.J. Ourso College of Business, Gov. Bobby Jindal said on Wednesday.  The decision follows Jindal’s announcement the tax amnesty program, designed to lessen the effects of state budget cuts, raised more than $300 million — twice as much as previously expected. The LSU System’s Board of Supervisors approved the financing plan for the $60 million complex Aug. 27. In addition to the state’s $30 million contribution, another $30 million will be provided by donors to the business college. The bidding process for construction will be immediately authorized by the funding commitment, which will bring $24 million of Priority 5 Capital Outlay funds up to Priority 1 for fiscal year 2011. The remaining $6 million will be moved up to Priority 1 the following fiscal year. The construction is expected to take two years. Jindal said the new complex will put the University on par with the best schools in the nation and attract the “best and brightest minds in the country,” as well as stimulate the local economy.”It will also be an incredible catalyst for economic development in our state by partnering with Louisiana’s business community to produce the first-class entrepreneurs of the next generation,” Jindal said. The new facility will be constructed next to Patrick F. Taylor Hall, which the business college will vacate, leaving it completely available to the College of Engineering, Chancellor Michael Martin said at the Board meeting in August. The 156,000-square-foot business complex will consist of four buildings, including undergraduate and graduate pavilions, a building to house administration and academic affairs and a 300-person auditorium. “The Business Education Complex is a visionary example of the investment of the state of Louisiana and private citizens working together with educational institutions to improve economic sustainability and workforce development for the future,” Martin said in the release. “As the flagship institution, LSU is in a unique position to be a torch bearer in what we hope will be the first of many examples of public/private partnerships.”E.J. Ourso College of Business Dean Eli Jones said the new complex will “transform business education at LSU.””It will be a beacon of hope, entrepreneurship, economic development and cutting edge business education and research, and the best part is it will be in the great state of Louisiana,” Jones said. —-Contact Ryan Buxton at [email protected]