economic development and quality schools

July 12, 2016

 

 

Cities with high-quality public schools are more economically competitive.

Any attempt to attract a company to Oklahoma City includes a discussion about the public school system, and that discussion has an effect on the company’s decision. Quality public schools have an economic impact at every level, from the influence on individuals to the effect on the community as a whole.

 

The quality of a public school system has an effect far beyond individual academic gains. An educated population results in less crime, improved public health and greater political and civic engagement. An educated population has less unemployment, less dependence on public assistance programs and greater earning and spending capacity. Greater spending capacity results in higher sales tax revenue, which is the primary source of operating revenue for municipalities in Oklahoma.

 

The quality of the local school district has a direct effect on property values. The link between the quality of the public school district and property values has been demonstrated in neighborhoods of all income ranges, in urban and suburban areas, and for homebuyers with and without children. Higher property values result in increased property tax revenue, which is the primary source of non-grant revenue for school districts, counties and vo-tech systems in Oklahoma.

 

Read the full article here in the July 12th edition of The Journal Record.

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