The Workforce & Innovation for a Stronger Economy (WISE) Fund and the WISE Council were created by Act 803 of the 2014 Regular Session of the Louisiana Legislature. The purpose of the WISE Fund is to provide an incentive for postsecondary educational institutions to increase the production of certificates, diplomas, and degrees in fields of high demand by Louisiana employers, and to spur additional research and innovation as a meaningful way of supporting economic development.
The intended outcomes of the WISE Fund are:
- Increased certificate and degree completers (or graduates) in high-priority fields.
- Increased research productivity.
- Enhanced curriculum and/or student experiences in response to industry expectations and needs in collaboration with industry.
In order to guide the work of the WISE Council, a Statewide Workforce Demand and Gap Analysis was developed and approved to match completers to occupations, identify targeted programs, and to fill the gap.