A new study by the Economic Policy Institute once again confirms what should be obvious; a well-educated work force is the key to a state’s prosperity.
Major findings of the report include:
- Overwhelmingly, high-wage states are states with a well-educated workforce.
- States can build a strong foundation for economic success and shared prosperity by investing in education.
- Cutting taxes to capture private investment from other states is a race to the bottom state economic development strategy that undermines the ability to invest in education.
- States can increase the strength of their economies and their ability to grow and attract high-wage employers by investing in education and increasing the number of well-educated workers.
- Investing in education is good for state budgets in the long run, since workers with higher incomes contribute more through taxes over the course of their lifetimes.
The importance of investments in education should be high on the agenda as the governor begins to develop next year’s state budget and the General Assembly considers various radical tax shift plans that could drain money from Georgia’s schools.
After cutting billions of dollars Georgia’s K-12 and higher education systems, and with the economy finally stabilizing, it is time to develop a budget and tax plan that will allow for the investments that fuel economic growth.
Labor Day weekend marks the last day of summer vacation season and children across Georgia will resume the new school year next Tuesday, ready to dig into their studies. Georgia owes these students, and the ones who will follow them, an education that best prepares them to join the workforce of tomorrow.