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Study: Lack of available child care could cost state economy $6.2 billion per year

Study:  Lack of available child care could cost state economy $6.2 billion per year

A report suggests a lack of available child care in many areas could cost Illinois' economy $6.2 billion a year. Photo: Shutterstock


Springfield, IL (CAPITOL CITY NOW) – One of the bigger drains on the state’s economy may be the inability of parents to find child care.

The group “ReadyNation Illinois” claims that drain is to the tune of $6.2 billion a year — based on lost work time by parents who can’t find the care.

The group issued a new report to that end (PDF).

“To arrive at that number, ReadyNation commissioned a poll of 403 working parents of young children under the age of five last October,” said Mike Murphy, Greater Springfield Chamber of Commerce CEO and ReadyNation member.  “The survey asked these Illinois parents about these childcare experiences. Their feedback was then analyzed by economists who work with City University of New York, and the University of Pennsylvania.”

Murphy says there can’t be a productive workforce, one that’s stable, without adequate child care.  He was part of a news conference Tuesday at the Illinois Capitol.

So, what’s the solution?

“Greater investments, public investments, at the state and federal levels for these kinds of resources,” said Sean Noble, Co-Director, ReadyNation Illinois.  “The economies of scale are such that we are going to need much greater investments than any one particular business, for example., can put into.”

Noble says, though, that some businesses have turned to providing child care on site, and while that’s a good solution, the state and federal funding would be better.  It’s been said that among certified child providers in Springfield, there is zero additional availability.

Read the full report at the link above.

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