A new analysis from the Business Economic and Community Outreach Network (BEACON) at Salisbury University shows the direct positive impact of a Post-Labor Day school start date on Maryland’s economy.
The report, The Economic, Employment and Fiscal Impacts Of Added Summer Vacation Days Attributable To Post-Labor Day Opening of Maryland’s Public K-12 Schools, finds that a total net economic impact of close to $58 million for six additional days of summer vacation and nearly $115 million for 12 extra days. This impact incorporates direct, indirect, and induced benefits. In a press release, Maryland’s Comptroller, Peter Franchot, concurs with the study, stating that the “independent analysis validates what we already know: starting school after Labor Day is good for Maryland families, good for our local businesses and good for the Maryland economy.”
From the Comptroller’s Press Release:
An economic impact study conducted by the Bureau of Revenue Estimates in August 2013 projected a post-Labor Day school start would generate an additional $74.2 million in economic activity, including $3.7 million in new wages and a separate $7.7 million in state and local revenue. These findings mirror the study just concluded by BEACON, which will release its full analysis in October.