[kids-lib] Early childhood and the economic impacts

[Katie Anderson]

Hello!  There are two recent and important studies around the significant economic impact of investing in early childhood care and education I would like to share with you.  The information from these articles would be great to use to advocate for your programs, and when seeking funding.

"Cost Savings Analysis of School Readiness in Michigan" by Wilder Research: http://tiny.cc/lJYTN

The key points from the executive summary of this study:

This study provides estimates of the dollar value of benefits to Michigan in 2009 generated by current school children who received early education services and by young adults who have been more successful because of school readiness programs.
 
The cost savings and revenues realized in 2009 due to the investments in school readiness over the past 25 years is an estimated $1.15 billion.
 
The Executive Summary breaks down all $1.15 billion in savings, I've pulled out several I thought you'd be most interested in.  Please read the article for more!
$136 million in reduced spending because fewer K-12 students repeated a grade 
$69 million in reduced special education spending for disabilities that have been prevented or ameliorated through early intervention 
$214 million in juvenile corrections, which includes reduced costs to arrest, adjudicate, and detain juvenile offenders 
$106 million in reduced substantiated child abuse and neglect, including the costs of out-of-home placement
$162 million in reduced tangible losses to victims of violent crimes and property offenses committed by juveniles
$14 million in health savings due to reduced alcohol and drug abuse among teenagers and adults who benefited from school readiness programs when they were children
"The Costs of Disinvestment: Why States Can't Afford to Cut Smart Early Childhood Programs" by The PEW Center on the States: http://tiny.cc/J5KEU

The key point from this Issue Brief:
Quality home visiting/parent mentoring programs can reduce costs now: 
Such programs can help decrease by half the incidence of low-birth weight births, saving between $28,000 and $40,000 per low-birth weight birth averted; and 
They can save states collectively some of the $33 billion in annual child abuse- and neglect-related costs, such as hospitalization and law enforcement.

Katie Anderson, Library Development Services
* Youth Services Consultant * Oregon Center for the Book Coordinator *
Oregon State Library, 250 Winter St. NE, Salem, OR 97301
katie.anderson at state.or.us, 503-378-2528
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