An Economic Impact Analysis of the Publicly Funded Pre-K-12 Education on the Eastern Shore of Maryland found that the economic impact of publicly-funded pre-K-12 education is over $1.5 billion and that the system creates 17,878 jobs. The study was written and compiled by Dr. Memo Diricker of Salisbury University’s Business, Economic, and Community Outreach Network (BEACON).
The report uses economic modeling to measure the impact of publicly-funded educational system on the Eastern Shore. According to the report,
The economic impact of the public school systems manifests itself through two channels:
- the annual impact from operations of the school systems and
- the impact generated by the percentage of the employees’ payroll spent locally.
The report also considers quality of life impacts, such as how local schools can attract and retain families who contribute to the community.
Based on the analysis, the school system provides a significant economic impact to the Eastern Shore. According to the report,
When examined as a region the return on investment of the county public school systems is approximately 92%.