President Barack Obama late Wednesday signed a federal disaster declaration for Louisiana and Mississippi after Hurricane Isaac washed ashore.

The declaration means the federal government will cover the cost of overtime for state and local emergency workers. It also means there will be federal disaster loans and other assistance made to the public.

FEMA has pre-staged supplies for distribution, once Isaac dies down or  moves far enough away from the disaster areas that the agency can safely bring relief.

The White House issued this statement:

THE WHITE HOUSE
Office of the Press Secretary

FOR IMMEDIATE RELEASE
August 29, 2012

President Obama Signs Louisiana Disaster Declaration The President today declared a major disaster exists in the State of Louisiana and ordered Federal aid to supplement state and local recovery efforts in the area affected by Hurricane Isaac beginning on August 26, 2012, and continuing.

Federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work in the parishes of Acadia, Allen, Ascension, Assumption, Avoyelles, Cameron, East Baton Rouge, East Feliciana, Franklin, Iberia, Iberville, Jefferson, Jefferson Davis, Lafourche, Livingston, Morehouse, Natchitoches, Orleans, Ouachita, Plaquemines, Pointe Coupee, Rapides, St. Bernard, St. Charles, St. Helena, St. James, St. John the Baptist, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Vermilion, Washington, and West Baton Rouge.

Federal funding is also available on a cost-sharing basis for hazard mitigation measures statewide.

W. Craig Fugate, Administrator, Federal Emergency Management Agency (FEMA), Department of Homeland Security, named Gerard M. Stolar as the Federal Coordinating Officer for federal recovery operations in the affected area.

Additional parishes and forms of assistance may be added after the Preliminary Damage Assessments are fully completed.