Carnegie pumps $14 million into New Orleans

The Carnegie Corporation of New York is funneling $14 million into New Orleans to shore up the area’s intellectual capital in the wake of Hurricane Katrina.

As part of the effort to help the city prepare for the “global knowledge economy,” Carnegie will award grants to bolster area colleges, universities and the region’s pool of K-12 teachers.

The awards include $2 million for Dillard University, $5 million for Tulane University and $4 million for Xavier University of Louisiana.

Those funds will be used to hire, train and retain faculty; find and keep new students; boost strategic planning efforts; and provide critical financial aid.

An additional grant of $1 million to Teach for America will allow the nonprofit to triple the number of teachers it places in New Orleans over the next three years.

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