Lost Opportunities: The Impact of Inadequate Child Care on - PowerPoint PPT Presentation

Lost Opportunities: The Impact of Inadequate Child Care on Workforce Productivity & Indiana’s Economy Maureen Weber, President & CEO Early Learning Indiana

What we know….

90% of a child’s brain develops by age 5

Skills beget skills

Long-term benefits Perry Preschool Study: $7-12 return for each $1 invested Abecedarian Project: 13% ROI annually Oklahoma: Reduced K-12 retention, more confident & engaged

What about Indiana?

49K Children under 5 years old enrolled in high-quality program 133K Children under 5 years old enrolled in known programs 337K Children under 5 years old in need of care 506K Children under 5 years old

What we wanted to know…

Co-Chairs MADELEINE BAKER GREG BALLARD Early Childhood Alliance University of Indianapolis REP. BOB BEHNING CHRISTY HOUSEHOLDER STACEY RICKMAN Indiana House of Representatives Cass County Economic Imagine This Career Journey, LLC Development ANDREW BERGER SEN. JEFF RAATZ Indiana Manufacturers Association TAYLOR HUGHES Indiana State Senate United Way of Central Indiana ANTHONY BRIDGEMAN JEFF SCOTT PNC Bank Ivy Tech Community College – LEE LEWELLEN Indiana Economic Muncie SHANNON DOODY Development Association University of Indianapolis MIKE TINSLEY Center for Excellence in Leadership SEN. EDDIE MELTON Cummins, Inc. of Learning Indiana State Senate STEPHANIE WELLS CHRISTINA HAGE PASTOR CLARENCE MOORE Indiana Manufacturers Association New Era Church United Way of Central Indiana

Indiana businesses lose nearly $1.8 billion every year

• Wages paid to absent salaried employees • Overtime pay for employees who cover shifts of absent co-workers • Costs associated with hiring temporary workers • Reduced productivity

Indiana’s economy is losing $1.1 billion every year

Indiana loses $118.8 million in tax revenue every year

County Impacts Impact on Impact on the Impact on Businesses Economy Tax Revenue INDIANA -$1.8B -$1.1B -$118.8M -$56.7M -$35.2M -$3.8M Elkhart Jackson -$12M -$7.5M -$812K Marion -$221.7M -$137.9M -$14.8M Montgomery -$7.9M -$4.9M -$808K Parke -$3.3M -$2M -$342K Vanderburgh -$46.3M -$28.8M -$3.1M

Hand-in-hand: Indiana’s economy & early care and education

To read the study, visit EarlyLearningIndiana.org www.earlylearningindiana.org