Louisiana launches $50M Growth Fund and Institute for Artificial Intelligence

The Louisiana Economic Development meeting held on February 18, 2025, focused on advancing the state's economic development strategies and initiatives. The meeting marked a significant transition for the partnership board, which is tasked with refining and approving a strategic plan developed by McKinsey. This plan aims to enhance Louisiana's economic development efforts, positioning the state as a leader in the field.

Chairman remarks emphasized the importance of collaboration and the board's commitment to effective economic strategies. Following the approval of the minutes from the previous meeting, Secretary Bourgeois provided updates on key agenda items, including the recent Super Bowl events that showcased Louisiana's potential.

A highlight of the meeting was the launch of the Louisiana Growth Fund, a $50 million co-investment fund designed to support growth-stage investments ranging from $1 million to $5 million. This initiative aims to foster innovation and technology in the state, connecting Louisiana's top startup events and expanding resources for entrepreneurs.

Additionally, the meeting introduced the Louisiana Institute for Artificial Intelligence, a bold initiative aimed at enhancing the state's capabilities in the rapidly evolving tech landscape. This institute is expected to play a crucial role in driving innovation and attracting talent to Louisiana.

Overall, the meeting underscored Louisiana's commitment to economic growth and innovation, setting the stage for future developments in the state's economic landscape. The board's next steps will involve further refining the strategic plan and implementing the initiatives discussed.