Strengthening Pennsylvania Businesses through Investments in Pre-Kindergarten

Posted by Pre-K for PA on May 5, 2014

On April 24th, Pre-K for PA released a report, Strengthening Pennsylvania Businesses through Investments in Pre-Kindergarten, issued by ReadyNation/America’s Edge on its behalf.

The report examines the economic benefits of pre-k investments in eight regions across the commonwealth and concludes “few investments make as much sense for Pennsylvania businesses’ balance sheets as do investments in high-quality early education.”

Every dollar Pennsylvania invests in quality pre-kindergarten programs generates $1.79 in new spending in the commonwealth, helping local businesses and creating jobs, according to a new economic impact study from a national business leaders’ organization.

ReadyNation/America’s Edge estimates that if Pennsylvania funded pre-k for all 3- and 4-year olds, that investment would generate $800 million in additional goods and services and create nearly 28,000 jobs statewide. At the same time, high-quality pre-k helps build the future workforce and foster long-term economic security.

“With limited funds available to help businesses and our economy stay on track, few investments make as much sense for Pennsylvania businesses’ balance sheets as do investments in high-quality early education,” the report said.

The report said that investments in pre-k:
* Generate an additional 79 cents in the local economy for every dollar invested — more than many major economic sectors (utilities, mining, manufacturing, farming, wholesale and retail trades, etc.).
* Trigger local spending activity across the services, real estate and construction, insurance and finance, and retail and wholesale trade sectors.
* Stay local, helping businesses grow while creating new jobs.

And these are just the short-term economic benefits. Long-term, investments in high-quality pre-k will help Pennsylvania build the workforce it needs to remain competitive in a global marketplace.

United Way believes that all children deserve access to a quality education from cradle to career – starting with early learning. High-quality pre-k prepares children for success in school and in life. And what’s more, today’s investments in quality early education translate into reduced special education costs, lower crime, increased earnings and taxes paid over time.

Join us in making high-quality pre-k a reality for all of Pennsylvania’s 3- and 4-year-olds by joining the Pre-K for PA campaign – help us double our supporters from 2,500 to 5,000 by May 20th!

http://www.prekforpa.org/wp-content/uploads/2014/04/PA-Multiplier-Report-4-25-14.pdf