As Maryland pushes for economic growth and development, there's an often overlooked catalyst that's elementary; it's preschool. Early childhood education is an economic imperative with far reaching implications for our quality of life and competitiveness.
Research shows that disadvantaged children under age six are more likely to enter school with less developed skills. Should they enter first grade unprepared, they will rarely catch up. And the problem compounds.
Nobel laureate economist James Heckman estimates more than 20 percent of U.S. workers lack the skills to write simple sentences or complete basic math. If the trend persists, Heckman projects a 50 percent decline in productivity gains attributable to education over the next 20 years.
Perhaps that's why quality preschool is now viewed as an economic imperative. Research shows every dollar spent on early childhood education reaps as much as $16 in long-term savings for society. Children with access to quality preschool are more likely to arrive at school ready to learn, attend college, earn higher wages and live productive lives.
The Maryland State Department of Education in partnership with Ready At Five recently released the 2010-2011 School Readiness Report. The report clearly illustrates the benefits of early education especially for children from low-income households. Those who are fully school ready rose from 34 percent in 2001-2002 to 73 percent in 2010-2011 compared to 49 percent and 81percent respectively for the total population of children entering school in Maryland.
Through PNC Grow Up Great, a 10-year, $100 million initiative in school readiness, the organization is collaborating with local nonprofits to help preschoolers foster a foundation for learning.
Still, further collaboration among corporations, policymakers and the community is needed to elevate discussions and action around the importance of access to quality early childhood education. It's one investment that will benefit society and the health and wealth of our communities and economy for generations to come.
Louis R. Cestello
The writer is the Greater Maryland Regional President for PNC financial services group and Chairman of Ready At Five.