The child care industry in North Carolina employs more than 46,000 people and generates more than $1.5 billion in gross revenues, according to a study performed by the National Economic Development and Law Center (NEDLC), supported by a grant from the W.K. Kellogg Foundation.
In addition to being a significant job-creating, income-generating industry in its own right, the study listed five key ways in which the child care industry is linked to North Carolina businesses and the economy as a whole in the state. Child care:
• Enables parents to participate in the labor force
• Drives labor force productivity by decreasing absenteeism, reducing turnover, and enhancing recruitment at existing businesses
• Attracts businesses to North Carolina by increasing education and quality of life indicators
• Cultivates North Carolina’s future workforce by improving the cognitive skills and emotional well-being of children and ensuring that they enter the traditional K-12 school system ready to continue learning.
• Offers a financial return by reducing future public spending in such areas as criminal justice, remedial education, unemployment, and welfare