The Economic Impact of the Early Care and Education Industry in Illinois

Publication Date: January 2005

Publisher: Action for Children; Chicago Metropolis 2020 (Organization); Illinois Facilities Fund; Insight Center for Community Economic Development

Author(s): Saskia Traill; Sara Slaughter; Susan Cahn; David Alexander

Research Area: Economics; Education

Type: Report

Coverage: Illinois

Abstract:

This report on the economic impact of Early Care and Education looks at this industry through a new lens -- an economic one that considers for the first time the industry's contributions to the Illinois economy. It also re-examines government savings and the workforce impact of Early Care and Education in Illinois.

Over the years, the Early Care and Education industry has changed to meet the growing needs of working families and their children. Regardless of program type or setting -- child care, Head Start, family child care, preschool, or prekindergarten, for-profit or nonprofit, public or private, regulated or unregulated -- the Early Care and Education industry provides economic benefits to Illinois and its businesses.

The findings in this report highlight the financial significance of the industry as well as the need to ensure access to high quality Early Care and Education for Illinois children. By targeting the Early Care and Education industry for economic and workforce development, the business community, government and industry leaders can capitalize on the high returns to our children and our economy.