BATON ROUGE - Governor Jeff Landry signed new legislation Tuesday aiming to overhaul Louisiana's economic development model and create jobs in the state. 

SB 494, dubbed the "Positioning Louisiana to Win" bill, establishes a private sector-led board designed to establish policies, programs, and initiative to draw businesses to the state. The agency will also "operate at the speed of business," a press release from the governor's office said, as it will be exempt from state procurement and technology service bottlenecks. 

“Today we are taking the first big step toward restoring Louisiana’s position as the economic powerhouse of the South,” Governor Landry said. “We have always had the most skilled and dedicated workers, the richest natural resources, and the best location for national and international commerce in the country. Now, with the signing of this bill and the leadership of Secretary Bourgeois, we can finally take full advantage of all the things that make Louisiana so special and give our workers and their families the future they deserve.”