Governor Bobby Jindal announced Tuesday that JPMorgan Chase & Co. is committing $1 million to the Foundation for Louisiana’s Community & Technical Colleges to fund statewide workforce training and connect more students with the state’s powerful industrial expansion. Once approved for matching funds by the Louisiana Board of Regents, the grant would be the first to tap into the state’s $40 million Workforce and Innovation for a Stronger Economy Fund, or WISE Fund. Through a 4-to-1 matching formula, the JPMorgan Chase grant would be transformed into a $5 million combined contribution. The investment is part of the bank’s unprecedented five-year, $250 million global New Skills at Work initiative.
The Louisiana Workforce Commission’s Occupational Forecast predicts that in the next 5-10 years, the state will experience a shortage of more than 80,000 skilled workers.Workforce training will be specifically provided in high-demand, high-wage industries across the state such as welding, pipefitting technology, electrical, advanced manufacturing, petroleum technology and process technology.
Read the full overview from Biz Magazine here.