New Tool Shows Charter Public Schools Spur Millions of Dollars in Economic Growth for Illinois Communities
Posted on: Wednesday, 13 December 2006, 12:00 CST
CHICAGO, Dec. 13 /PRNewswire/ -- The Illinois Network of Charter Schools (INCS) today released a new model that shows charter public schools can spur millions of dollars in economic growth for Illinois communities.
In a briefing with the Illinois Chamber of Commerce, the Chicagoland Chamber of Commerce, and civic and business leaders, INCS unveiled the Charter Impact Projector (CHIP), which will be used to help Illinois communities forecast how much they can benefit economically from creating charter public schools.
The Illinois-specific model is the first of its kind in the country and shows substantial economic benefits to districts and communities when high-performing charter public schools are created, bringing higher graduation rates, increased tax revenue, decreased social spending and higher real estate values. The annual financial benefit to Illinois communities for turning one high school dropout into a college graduate is $38,400 to $42,000 per graduate.
Charter public schools produce higher than average attendance and graduation rates, higher overall standardized test scores, and higher college admission rates than traditional public schools.
"This model shows that charter public schools are a smart financial and academic investment for Illinois communities that will pay off for years to come," said Elizabeth Evans, executive director of INCS. "Communities and our economy benefit from the kind of innovation taking place in Illinois's charter public schools, and students benefit when they can choose from many good schools."
Evans attributes the success of charter public schools to the flexibility the school leaders and teachers have to design innovative curricula that adapt to meet students' individual needs. Charter public schools provide more professional development and collaboration for teachers than traditional public schools, and they set high standards for academic work, attendance and discipline.
"In education, just as in business, innovation is the key to success," said Jerry Roper, President and CEO of the Chicagoland Chamber of Commerce. "Innovation in charter public schools is producing results, and this model shows that the creation of more charter public schools could have a profoundly positive economic impact on our communities."
"Business leaders have always known that great schools produce excellent future employees," said Doug Whitley, President of the Illinois Chamber of Commerce. "And now, for the first time, this tool provides a window to the future, showing us the tremendous economic impact of great schools on our Illinois communities."
Data on the Rockford and Aurora East school districts were entered into the model to demonstrate how it measures financial value. High-performing charter public schools have the greatest direct economic benefit for communities with the worst performing schools and school districts with swiftly growing enrollments, where the benefits quickly multiply.
"Innovative tools such as the Charter Impact Projector provide communities like Rockford the opportunity to evaluate the economic and educational impact that charter schools can have in a community. We will continue to explore every avenue available to us in providing our citizens with a high quality education," said Rockford Mayor Lawrence J. Morrissey.
Matt Arkin, a senior consultant with Public Impact, developed the model and presented it at the briefing. Public Impact is a Chapel Hill, North Carolina based team of national researchers who design and implement some of our nation's most visionary and practical strategies for improving the quality of K-12 education.
About the Illinois Network of Charter Schools (INCS): INCS is a statewide membership organization for charter public schools, with 34 member schools serving 17,000 students on 54 campuses across Illinois. As the collective voice of charter public schools, INCS embraces its mission to promote and invigorate the charter public school model and strengthen its members' roles in quality public education systems.
Contact: Heather Shadur 312-226-5100 cell 312-933-6777
Illinois Network of Charter Schools
CONTACT: Heather Shadur of Illinois Network of Charter Schools,+1-312-226-5100, cell, +1-312-933-6777
Web site: http://www.incschools.org/
Source: PRNewswire
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