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The economic impact of child care in Florida

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Florida Children's Forum
Publication Date: 
8 Oct 2003

Available in print for order (see SOURCE) or online for download.

From executive summary:

Nationwide, lawmakers are struggling to meet the needs of citizens and fund vital children's programs. At the same time, Florida's decreasing tourism dollars and exploding health care costs have placed great strains on the state's budget and on our lawmakers. As demands on Florida's early care and education systems increase, policy makers and business leaders must reframe the business of caring for children from a social, private policy to a broad public responsibility that greatly impacts Florida's collaborative economy.

Highlights of the report:

- Working parents with children younger than six years old earn more than $5.6 billion a year, income that contributes to the state economy by leveraging the spending power of families;

- For every $1 million generated by Florida's child care industry, the industry creates 22 jobs and the overall economy creates 32 jobs;

- For every $1 million in child care revenue, the regional economy generates $863,000 in additional revenue;

- The industry generates $142 million in tax revenue for local and state governments.