Schools Impact Economic Development – Study concludes that high quality public schools can help economic development.

Investing in Public Schools Impacts on Future Economic Development

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KnowledgeWorks Foundation http://www.kwfdn.org has released the publication Public Schools and Economic Development: What the Research Shows, which concludes that high quality public schools can help make states and localities more economically competitive, and that they indisputably affect residential property values. As our nation invests billions in new public school facilities, there is important emerging evidence that the quality, size, and location of school facilities play a role in economic development.

"Critical to our vision as an education foundation is a belief that a highly educated and skilled populace benefits both individuals and the community as a whole," said Chad P. Wick, president and CEO, KnowledgeWorks Foundation. "We believe that since the evidence indicates that schools are an important contributor to our economy, education should be viewed as an investment rather than a service that governments provide."

"If we view education as an investment, then we must closely examine what makes a good public school — a school that realizes both high student achievement as well as the economic outcomes that we all seek," said Jonathan Weiss, nationally recognized expert in community sustainability and economic development and author of the publication.

There is widespread interest in this subject. There has been substantial coverage of speeches on the subject by Alan Greenspan, chairman of the Federal Reserve Board of Governors, before a variety of audiences in the last few months. In recent testimony before the U.S. House of Representatives Committee on Education and the Workforce, Mr. Greenspan observed:

One critical element in creating … opportunity is the provision of rigorous education and ongoing training to all members of our society. This proposal is not novel; it is, in fact, the strategy that we have followed successfully for most of the past century and a strategy that we now should embrace with renewed commitment.

Mr. Greenspan goes on to state that wealth creation lies in the "knowledge and skill of our population."

KnowledgeWorks Foundation offers this review as a primer on the existing research and as fodder for a new discussion that seamlessly connects public education with the welfare of our cities, states, and nation. It also provides a basis for assessing what research has yet to be completed to better understand the relationship, and to better understand what makes a "good school" for our children and our communities.

To request copies of the report, or to download a pdf version, please visit our Web site. http://www.kwfdn.org

KnowledgeWorks Foundation is Ohio’s largest public education philanthropy. KnowledgeWorks Foundation provides funding and leadership for education initiatives throughout the state and is focused on removing barriers to quality education. The Foundation is committed to sharing knowledge gained and lessons learned with others in Ohio and across the nation to help inform public policy. KnowledgeWorks Foundation is headquartered in Cincinnati, OH.