The need to focus on childcare

Advancing high-quality childcare is a winning proposition and a wise investment for Vail Valley area businesses and local governments in the future. Early childhood initiatives play a key role in the retention of families in our community and are a key initiative to our current and future workforce.

Businesses depend on a childcare system that is accessible, affordable, high quality, and flexible, and business leaders have an important role to play in supporting working parents. Strengthening the network between the business community, local governments, and childcare providers and advocates, and state-level resources is a must to help address this issue. It is important to the continued vitality and sustainability of our communities.

Roughly half of Americans have trouble finding childcare, and 27% of them say it’s because there are not enough open childcare slots. As a result, two-thirds of parents in the U.S. have very few — often only one — childcare options. These national numbers are likely higher in our region.

In the United States, it costs $300 per week to send a child to a family care center, $340 per week to send a child to a childcare or daycare center, and $612 per week for a nanny, as reported by the Center for American Progress. The cost of sending two children to a childcare center jumps considerably to $640, with the weekly cost for a nanny coming in at roughly $654.

According to a 2020 study that analyzed 25 states across the nation, 8.4 million children under the age of five needed childcare. However, only about 5.9 million childcare slots were available. Thus, roughly 2.7 million children, or 31.7%, could not access quality childcare due to a limited number of childcare slots.

As a result of childcare problems, 63% of working parents have left work earlier than normal, 56% of working parents have been late for work, 55% of working parents have missed a full day of work, and 54% of working parents have reported being distracted at work, according to data published by Ready Nation.

In addition, of the parents surveyed, one in five of them said they have been reprimanded at least once by a supervisor, and one in seven of them said they have had their pay or hours reduced as a result of childcare affecting their productivity levels at work.

57% of families across the United States spent more than $10,000 on childcare last year, according to a survey by Care.com. In 2021, 59% of families are budgeting to spend more than $10,000 in yearly childcare costs. These numbers make childcare more expensive than college, with the average in-state tuition ringing up at $9,580 annually.

There’s no question that quality childcare — that is both accessible and affordable — is an integral aspect of both the U.S. economy and the livelihood of families in Eagle County. However, after analyzing the numbers, it seems the current system is not only failing parents but also shorting employers and placing an overwhelming burden on our economy.

Although, understandably, early childhood education and childcare don’t capture the attention of the community the same way as housing does, it is an important social and economic issue that deserves continued attention and support. Eagle County’s new short-term rental lodging tax is a step in the right direction and other local public-private partnerships are underway to address the childcare and early childhood education challenge.

Creating a stronger, more resilient system supports families and providers alike, which strengthens our community.

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com