Tuesday, March 20, 2007

The Economics of Early Child Education

At the National Press Club earlier this month, a group of business leaders, economists, and philanthropists launched a modest, $3.1 million, ten-year project to make early education a top U.S. priority. Entitled Partnership for America's Economic Success, the partnership is now in the midst of a two-year research phase, and is commissioning about 15 studies to discern the economic benefits of early education and policy options for public and private financing, among other things.

This project is the latest signal of corporate America’s increasing interest and involvement in young children’s education. Concerns over global competition and the need for an innovative and better-trained workforce are fueling this interest. Early education is viewed as a sound economic investment that will yield a healthy rate of return. Invest in kids is not just a slogan. . . it's now workforce policy.

This project has benefited immensely from the leadership of Susan Urahn and her staff at the Pew Charitable Trusts, which manages and helps fund the Partnership for America’s Economic Success. The Trusts have made considerable contributions to early childhood education. Their State Policy Initiatives program, for instance, has funded rigorous, policy-focused research and supported public education campaigns that demonstrate the value of high-quality preschool for all three- and four-year-olds. The Trusts has invested over $50 million to advance this goal since 2001, launching pre-K campaigns in over a dozen states. And progress has been made: over the past two years, states have increased preschool funding by over $800 million.

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