(a) The State Workforce Development Board shall be responsible for oversight of a return on investment analysis to evaluate and report on the effectiveness of secondary and postsecondary programs aligned with the priority areas identified by the State Workforce Development Board and included on the High-demand Career List published by the State Workforce Development Board as provided in Code Section 34-14-3.

(b) As directed by the Governor, the State Workforce Development Board shall coordinate and collaborate with the Office of Student Achievement, the Department of Education, the Technical College System of Georgia, the University System of Georgia, and the Georgia Student Finance Commission to develop the return on investment methodology utilizing an analysis of data sources that include, but are not limited to, existing federal and state resources, longitudinal outcome tracking of student information, enrollment and program outcomes, and labor market analysis.

(c) The evaluation and report required by this Code section shall include a comprehensive review of student participation and outcomes, program alignment with labor market needs, and recommendations for programmatic adjustments to better meet the needs of Georgia’s businesses, industries, and workforce and shall address, at a minimum, the following:

(1) The percentage of program graduates employed including retention rates and wage growth over time;

(2) Comparison of graduates’ average wages to state, national, and industry benchmarks, with wage growth assessed at two-year, five-year, and ten-year intervals post-completion;

(3) The extent to which skills, certificates, licenses, diplomas, degrees, or other credentials offered by the State Board of Education, the University System of Georgia, and the Technical College System of Georgia align with the High-demand Career List published by the State Workforce Development Board as provided in Code Section 34-14-3;

(4) The percentage of students, at both the secondary and postsecondary levels, that are obtaining any credentials identified in paragraph (3) of this subsection; and

(5) Transparent information to stakeholders regarding program availability and outcomes.

(d) The evaluation and report required by this Code section shall be:

(1) Approved by the State Workforce Development Board on or before December 1 of each even-numbered year;

(2) Submitted by the State Workforce Development Board to the Governor; the President of the Senate; the Speaker of the House of Representatives; the respective chairs of the House Committee on Education, the Senate Education and Youth Committee, the House Committee on Higher Education, and the Senate Higher Education Committee; and the Office of Planning and Budget; and

(3) Published on the public websites of the State Workforce Development Board, the Office of Student Achievement, the Department of Education, the University System of Georgia, the Technical College System of Georgia, and the Georgia Student Finance Commission on or before December 31 of each even-numbered year.

(e) All state agencies and political subdivisions of the state, including postsecondary education institutions and local school systems, shall cooperate in collecting and sharing all data and other pertinent information necessary for the implementation of the evaluation and preparation of the report required by this Code section, subject to applicable privacy protections, within a predetermined time frame as set by the State Workforce Development Board. Such agencies and political subdivisions shall use the findings of the report to recommend continuation, modification, or discontinuation of programs to better align with workforce needs.

(f) The purpose of this Code section is to ensure the effective use of state resources, prepare Georgians for high-demand career pathways, and support the state’s economic development by fostering a workforce aligned with employer needs.