On Aug. 4, we attended the North Downtown Sertoma Club luncheon where Melina Kennedy, Democratic candidate for mayor of Indianapolis, outlined her four-part education plan that was rich in both vision and details. As an economic development attorney and classroom educator – and as City-County Council candidates – what stood out to us was a proposal that understands that the success of our schools and the economic vitality of Indianapolis are one and the same – each is dependent on the other.
Melina’s focus on early childhood education and literacy could not be more important. A 2001 cost-benefit analysis on Chicago’s Child-Parent Centers (school based early-age intervention) found that for every dollar invested, $7.10 was returned to society at large in the form of higher earning capacity, increased tax revenues and savings on crime and remediation costs. The benefits increase with time. For every $1 invested nearly $11 is projected to return to our community – any business owner can see the value in this investment.
In addition, when compared to their peers, participating students had a 42 percent reduction in arrests for violent offenses and a 29 percent higher graduation rate.
In case anyone still doubts the relationship between education and the economy, the Alliance for Excellent Education issued a report on the Indianapolis-Carmel area that shows what our high dropout rate costs us. According to the report, 6,300 students dropped out of the class of 2010 – if just half these students had graduated, they estimate:
n Those students would have gone on to collectively earn as much as $40 million more in a single year.
n Additional spending from this income could have supported 350 new jobs and generated $3.9 million more in tax revenue.
n By the mid-point of their career, they would have spent as much as $87 million more on home purchases and $2.2 million more on car purchases, further stimulating the economy.
This results in a better quality of life for everyone; this results in creating tax revenue by helping people be a part of the contributing workforce, and not a burden on it. In a time where elected officials – especially our City-County Councilors – need to be fiscally responsible, Melina’s proposal to invest in our human capital will result in a return on investment without increasing taxes or cutting services.
In Melina Kennedy, it is clear we will have a mayor who is a leader in these efforts, passionate about education, attuned to its role in our economy and will not rest until Indianapolis is the city our children deserve.
Kostas Poulakidas
Economic Development Attorney
Democratic Candidate
for City-County Council, District 4
Leroy Robinson
Public school educator and administrator
Democratic Candidate
for City-County Council, At-Large
