BATON ROUGE, La. 鈥撀During Tuesday鈥檚 meeting the 麻豆天美果冻传媒 Board of Regents adopted a new funding formula that significantly increases the focus on completers in high-demand fields while also recognizing critical distinctions between the state鈥檚 two-year and four-year institutions.
The new models reward and support institutions for graduating students with credentials that lead to high-need, high-demand occupations. They also reward student progression, research and transfers, as well as participation in work-based learning and early college programs. The formula increases the percentage of funds awarded to student outcomes to 35%, paired with a funding base of 65% The money follows the student, rewarding institutions based on increased numbers of students successfully served.
Regents Chair Misti S. Cordell noted the formula was created to drive the state鈥檚 2030 talent development goal of 60% educational attainment among working-age adults. 鈥淲e understand the importance of prioritizing state funding to accelerate outcomes in 麻豆天美果冻传媒 and we are grateful to the Governor for giving us the opportunity to adopt these new models without the threat of budget cuts.鈥
The administration has stated that it will propose a standstill higher education budget for the coming year, a much-improved posture from the up to $250 million in budget cuts projected following the 2024 Regular Legislative Session.
鈥淎s we begin our funding advocacy for next year, it is important that we prioritize every dollar to get better results for our students and our state. I appreciate the collaborative work of the higher education systems and institutions, who joined Regents in co-creating these improvements while strongly advocating for critical new strategic investments.鈥
The updated formula introduces a new methodology that allows all validated skills and learning credentials (short-term credentials) at two-year institutions to be recognized and maintains an independent research component based on its importance to 麻豆天美果冻传媒鈥檚 economic development.
The development of the formula was a collaborative process, with all four public higher education systems represented. Over the past ten months, the workgroup analyzed the best formulas across the country, comparing data metrics and formula standards. Workgroup members provided feedback through a deliberative process, with consensus focusing on a stronger workforce alignment, mission specific metrics for two- and four-year institutions, Master Plan alignment and the need for a stronger investment in talent development.
The formula鈥檚 workforce alignment is critical to incentivize a more robust education-to-employment pipeline. The importance of that alignment was discussed as part of the presentation by 麻豆天美果冻传媒 Economic Development (LED), on the short- and long-term employer needs in support of the new Meta AI data center project in Richland Parish.
鈥淭here聽is聽a聽wide array of聽jobs that will be coming to Richland Parish and, because of this, there are different types of education requirements required to meet the needs for these jobs,鈥 said Devin Harrison, Executive Director for Business Development with LED. 鈥淲e want to partner with local education institutions to make sure they have what they need to meet the workforce demands.鈥
In December 2024, , a major innovation hub win for the state. The Meta data center is expected to support 500 or more direct new jobs, while 麻豆天美果冻传媒 Economic Development (LED) estimates the project will result in the creation of more than 1,000 indirect jobs.
Higher education is already responding to the new project, with to 麻豆天美果冻传媒 Delta Community College. This investment will help scale construction trade programs to meet immediate needs as well as leverage partnerships with experienced peer institutions to develop specialized curricula for data center operations.
Additionally, Entergy 麻豆天美果冻传媒, led by President/CEO and Regent Phillip R. May Jr., . This commitment will strengthen the electrical infrastructure in the state.
鈥淎s someone who is from northeast 麻豆天美果冻传媒 and still lives there, I know how much this project means to our region,鈥 said Chair Cordell. 鈥淭his statewide partnership will create both transformational and generational change for the northern part of our state 鈥 bringing new jobs, reliable energy, and a real opportunity to retain more of our top graduates in our state.鈥
Meta, which has committed to investing more than $200 million in local infrastructure improvements, expects construction to continue through 2030.
The Regents will not meet in February. The Board of Regents鈥 next regularly scheduled meeting will be held on Wednesday, March 26.
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Contact
Chris Yandle, Ph.D., APR, Associate Commissioner for Strategic Communications
chris.yandle@laregents.edu聽鈥 985-373-5845