Lu Johns-De La Garza Lu Johns-De La Garza
Former Education Policy and Programs Intern, U.S. Chamber of Commerce Foundation

Published

July 03, 2024

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On June 27, the inaugural National Child Care Innovation Summit united 400+ leaders from business, government, and childcare sectors. This groundbreaking event, co-hosted by the U.S. Chamber of Commerce, the U.S. Chamber of Commerce Foundation, and the U.S. Department of Commerce, tackled childcare challenges, showcased innovative solutions, and mobilized private and public sector partnerships for childcare infrastructure.

Explore key insights and actions from the National Child Care Innovation Summit below. 


  • Childcare is an economic and workforce issue.  Accessible and affordable childcare leads to a strong workforce which in turn supports a strong economy
  • Public-private partnerships are key to dismantling the childcare crisis. These collaborations unite resources and expertise to create innovative, sustainable solutions for families, businesses, and communities alike.
  • Childcare is infrastructure. It must be affordable and accessible to ensure a functioning and thriving economy and labor market in the future. “When we are investing in childcare, we are investing the productivity of our workers of the future,” said Bo Jackson, member of the Council of Economic Advisers
  • The numbers tell our childcare story clearly. From billions lost in economic activity across the country to losses in household economies, childcare impacts many facets of American life. Read below for a snapshot of our story by the numbers.
  • It’s up to all of us to define success and there’s no better time to start than now. There is no one-size-fits-all solution to this crisis. Every community has different needs.  As a society and nation, we have to start somewhere.

“Childcare is not only a social issue or a 'women's issue.' It is also an economic issue. In fact, it’s one of the most critical economic issues affecting families, businesses, and communities today.”

-  U.S. Commerce Secretary Gina Raimondo


America’s Childcare Story: By the Numbers

The Summit was driven by the insights and power of data in advocating for change and collaboration. As we search for solutions to improve the next chapter, here’s what our story currently tells:

  • Our economy loses more than $120 billion each year due to a lack of adequate childcare, contributing to the growing workforce shortage.
  • States lose on average $1 billion dollars in economic activity every year.
  • 58% of parents reported leaving work because they were unable to find childcare solutions.
  • Women represent 47% of all U.S. employees and are integral to our modern workforce; however, 32% of women cited the need to be at home to care for family members as a barrier to returning from work.
  • The number of childcare providers plummeted more than 30%, disproportionately affecting women and women of color.
  • On average, childcare costs can range from $10,000 to $15,000 per year per child, which in most states is higher than state tuition for public college.

Learn more about the impact of childcare on America’s labor shortage in a new data deep dive from the U.S. Chamber of Commerce.


“By being able to make sure that children are being well taken care of, that they are getting education in these childcare environments, they are going to be more productive in the future in terms of contributing to economic growth of the country 10 years, 20 years from now.”

-  Manish Bhatia, Executive Vice President, Global Operations, Micron Technology

 

Thank You to Our Participants and Sponsors

Thank you to all who joined this historic occasion, marking the start and continuation of such a vital conversation for our country and economy. Thank you to our event sponsors that helped us carry out the critical mission and vision of the National Child Care Innovation Summit and a special thank you to our U.S. Chamber Foundation reception sponsors.

The National Child Care Innovation Summit was just a starting point of the collaboration. The success of our economy has always stood on the back of innovation through collaboration. Our economy and workforce thrive when we tap into the combined strength of public and private partnerships. It's on us to back these partnerships as they tackle big issues like making childcare more accessible. By doing this, we are not just solving problems – we are keeping our economy robust and setting ourselves up for long-term success.

When we choose to invest in accessible, quality, and affordable childcare, we are not only investing in children, families, communities, workforce, and our economy; we are choosing to invest in strengthening our country and the future generations to come.

 

Stay tuned for more behind-the-scenes insights from the National Child Care Innovation Summit and the thought leaders shaping the future of childcare.

Up Next at the U.S. Chamber of Commerce Foundation

Join us for the 2024 Business Solves Conference to continue the conversation on how businesses are bringing forward ideas and solutions to serve others, solve problems, and strengthen society.

About the authors

Lu Johns-De La Garza

Lu Johns-De La Garza

Lu Johns-De La Garza is a former education policy and programs intern at the U.S Chamber of Commerce Foundation.

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