When searching for ways to address a $2.6 billion state budget deficit, the word “investing” does not immediately come to mind.
Other words, such as “cut” and “slash” are more likely to be on the tips of lawmakers’ tongues as they debate ways to balance the state’s books.
Investing, however, is not as counter-intuitive as it may seem. Investing isn’t just spending, it is spending with idea of getting something in return. In this case, that something is tax revenue from more people going back to work.
This state has 34 good investment opportunities toward that goal. They are called community colleges.
Looking for the industry du jour? Want to take the temperature of the economy? Look at the community colleges.
When times are good, employers look for efficient sources of educated and well-trained workers. Community colleges respond with targeted programs, often in public/private partnerships that stretch tax dollars, to meet the needs of business.
When times are tough, suddenly unemployed and underemployed workers look for an efficient place to remake themselves and gain the skills they need to get back on the job.
Efficiency is a key trait of community colleges. According to a recent study, for every dollar invested, state and local governments will see a 23.8 percent rate of return in increased taxes and avoided costs. That’s an attractive proposition, even in the good times.
In his State of the State address, Gov. Gary Locke outlined a five-step economic recovery plan that included public construction spending, international trade, reducing cumbersome regulations, financing business-friendly projects and lastly, investing in education.
Locke said, “A strong education system prepares our work force for good, family-wage jobs. And jobs are the key to economic recovery. We must do all we can this session to create and support jobs in our state.”
Lawmakers can do that by supporting the community colleges.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
