In their report, Ontario in the Creative Age, Roger Martin and Richard Florida recommend: “Make early childhood development a high priority. This is the highest payoff investment we can make in our long-run prosperity.” Economic studies make that clear:
- A Manitoba study reveals that spending on early childhood programs has an economic multiplier effect on local economies, generating up to $1.7 dollars for every $1 spent.
- The Ypsilanti, Michigan, study has spent 40 years tracking the cost-benefits of a preschool and family intervention program on a group of inner city minority children. It calculates $17 in health, justice, and social welfare savings for every $1 spent on the program.
- Nobel laureate economist James Heckman calculates a 7:1 return on public investment for programs for young children, compared to a 1:1 payback from adult education.