Commends the Edward Lowe Foundation for its partnership with Louisiana Economic Development and extends gratitude for its contributions to economic development in Louisiana.
Impact
The collaboration between the Edward Lowe Foundation and LED has yielded substantial benefits for the Louisiana economy. Since 2011, their joint efforts have reportedly led to nearly $700 million in increased annual sales for approximately 357 businesses, in addition to creating over 3,000 new jobs. This partnership exemplifies a successful model of how focused entrepreneurial support can stimulate significant economic returns, boasting a noteworthy ROI of over $10 for every dollar invested by the state.
Summary
Senate Resolution No. 75 commends the Edward Lowe Foundation for its significant contributions to economic development in Louisiana. Established in 1985, the Foundation focuses on advancing entrepreneurship, particularly for second-stage businesses, those poised for growth but not yet fully matured. Through its programs, the Foundation has partnered with Louisiana's Economic Development (LED) department to foster an environment conducive to entrepreneurship, marking it as a pivotal player in enhancing the state's economic landscape.
Sentiment
The sentiments expressed in discussions surrounding the resolution were overwhelmingly positive, reflecting appreciation for the impactful initiatives led by the Edward Lowe Foundation. Legislators and members of the economic community acknowledged the Foundation's role in supporting growth-oriented businesses, thereby enhancing job creation and economic resilience in Louisiana. The positive view is reinforced by the recognition of the Foundation's innovative approaches to entrepreneurship development.
Contention
While the main tone of the resolution is celebratory, it is worth noting that discussions about economic development and entrepreneurship can sometimes raise questions about the adequacy of support mechanisms for all businesses, particularly smaller start-ups that may not qualify as second-stage businesses. Limiting attention only to a specific category of businesses could lead to considerations regarding how the state ensures a balanced approach to fostering entrepreneurship across different business stages.
Commends the Louisiana Endowment of the Humanities for its outstanding contributions to the state of Louisiana and to express sincere gratitude to the Prime Time Head Start programs for its lasting contributions to early childhood education in Lafayette Parish and in Louisiana.
Commends Diamond Security Services, Inc., on receiving the Louisiana Department of Economic Development 2022 Small and Emerging Business of the Year Award
Commends Sherri McConnell for her service to the state of Louisiana, upon her resignation from the Louisiana Department of Economic Development, Office of Entertainment.
Requests that the Bd. of Regents and the State Bd. of Elementary and Secondary Education, with the Taylor Foundation, La. Office of Student Financial Assistance, public postsecondary education management boards, and certain others, study certain issues relative to TOPS
Requests the Louisiana Workforce Commission and the Louisiana Department of Veterans Affairs to study employment practices and professional licensing requirements to benefit veterans in the workforce
Creates a task force to study meaningful oversight of the professional healthcare licensing boards statutorily created within the Department of Health and Hospitals.