SwampFox

Bob Faith and Susan DeVenny: Early Childhood Education Delivers Strong Economic Development Returns and an End of the “Leaky Buc

Early Childhood Education Delivers Strong Economic Development Returns and an
End of the “Leaky Bucket”

By Bob Faith, S.C. Secretary of Commerce
And Susan DeVenny, Director, S.C. First Steps

The world’s most successful economies are characterized by their own highly educated workforce.

That’s why education and workforce development remain critical components in South Carolina’s strategy for a stronger economy, ensuring our workers are better prepared to step into the high-paying, knowledge-based jobs that will improve our state’s standard of living and quality of life. In a changing economy, developing the skills of an increasingly global workforce is critical to the Palmetto State’s continued success. Not only must we create jobs and generate capital investment in South Carolina today, but we must also take the long view toward developing the human capital needed to increase SC’s ability to compete in the future.

As Harvard’s Michael Porter told SC business leaders two years ago, raising our per capita income –currently at 82.5% of the national average—is “a marathon, not a sprint.” In the short and long term, then, education must remain a priority in our state. Educational achievement leads to better job preparedness for our citizens and an increase in our state’s ability to meet future labor force demands. Investing in our human capital and educating tomorrow’s leaders breeds economic success for those being educated and for the state overall.

With increasing need to reexamine education structures for fit with the new economy, business leaders are turning their attention to high quality early education for our youngest learners. Brain research is compelling: fully 90% of a child’s academic and life potential is formed by age 4. Nurture and early learning--- the purview of families with support by public, private and faith-based child development providers—has profound impact on students’ school readiness, K-12 success, and ultimately, our state’s future workforce and economic strength.

Although its economic development rewards are great, early childhood education is rarely viewed in economic development terms. But, we believe that it should be.

The economic “return on investment” from quality early childhood care and education is extraordinary. The oft-cited Perry Preschool intervention (high-quality preschool and parent-support, serving 123 low-income 3- and 4-year old students in Michigan during the early 1960s) was recently studied by the Federal Reserve Bank of Minneapolis to discern lasting individual and economic benefits (Rolnick, 2005). Analysts place the 40-year return on $1 invested in the Perry project at $17.07 (both public and private). The real “return?” Better-educated workers, reduced school remediation and dropout rates, lower crime, and higher wages ---- all of which can help South Carolina attract world-class companies and quality jobs to fuel our future economy.

Carefully focused investments in quality early childhood education can yield huge benefits to individuals and the state. “Ready children” become early readers and math proficient learners, high school graduates, tomorrow’s knowledge-based economy workers. Increased school readiness is increasingly a competitive advantage to states.

No one agency or organization can “go it alone” in the provision of quality early care and education services to support the families of more than 334,000 SC children under six, nor is there any “one size fits all” solution. Effective collaboration among current providers is key to leveraging quality --- blending needed resources from state, community, public and private sources. Through increased coordination between public and private entities, we envision a state whose goal is high-quality early childhood programs for all children who wish them---qualified and well-compensated staff, age-appropriate and creative curricula, enriching and safe learning environments for our youngest learners--- with redoubled efforts toward targeting intensive, research-based interventions for our children whose medical, environmental or special needs demand greater public resources and support.

High-quality care and early education—at home, school, or in the private and faith-based community-- for all South Carolina’s children yields direct positive benefits for our state’s economic competitiveness. Kindergarten children prepared for a successful education bring greater potential for personal and academic achievement, and a proven trajectory of results. Our long term commitment to young learners builds an end to South Carolina’s economic “leaky bucket:” a high quality, future workforce to fill high-paying jobs and drive economic development gains in South Carolina.

In the end, preparing our children for school has a positive impact on tomorrow’s workers and tomorrow’s economy—making it a wise economic development strategy for South Carolina.