We hear much talk these days about "investments in the future," about how convention centers, shopping malls and the like will pay dividends in jobs and tax revenue in the years to come.
There is no better investment in the future than efforts that help produce a well-educated citizenry and workforce. Mayor Nutter has recognized as much by making a better-educated Philadelphia one of his chief goals. In his inaugural speech, he called for doubling the percentage of Philadelphians holding four-year college degrees in the next five to 10 years and cutting the high school dropout rate in half in five to seven years. He has told Philadelphia voters that "education is the heart and soul of solving our problems."
To achieve these goals, we must ensure that all kids have access to high-quality child care from the start, and that the buildings where children are cared for meet high standards.
We believe that a wise choice is to invest in the businesses and facilities where our children are cared for, places that working families depend on in order to keep our economy going.
Why do quality early child care and education matter? Studies have shown that children who participate in early child care do better many years down the road. Participants in early childhood-development programs are more likely to finish high school and less likely to repeat grades or require special-education classes. They do better on college- and career-placement tests. They are less likely to engage in crime, and they earn more when they enter the workforce.
An equally compelling advantage of continuously improving the child-care industry is the significant short-term economic reward. As we all know, the success of our region's economy rests heavily on a dependable workforce, and working families need reliable child care.
In recent years, researchers have even been able to quantify the returns on investment in early childhood development. The Economic Policy Institute in Washington, for instance, has estimated that programs focusing on the poorest 25 percent of 3- and 4-year-olds recoup their costs within six years, and that other programs pay for themselves in nine. They concluded that such programs would produce $315 billion a year in benefits through increased earnings and reduced government spending on crime by 2050.
We have every reason to think that Philadelphia might reap proportionately larger benefits, given the high percentage of children living in poverty in the city. And for the last five years, the city has agreed. The city's $5 million commitment to the Child Care Facilities Fund has enabled child-care providers to improve their facilities, programs and businesses, and it has helped them meet high quality standards. That $5 million commitment has in turn leveraged more than $9 million in private investment in better early-childhood programs throughout the Philadelphia region.
Given Mayor Nutter's pledge to make Philadelphia a smarter city in 10 years or less - and civic and business leaders' commitment to ensure that all Pennsylvania children get off to a great start in life through quality early-childhood education - we believe that one of the most cost-effective investments that the city can make in its future right now is a continued commitment to support the Child Care Facilities Fund.