Advocates tell lawmakers childcare industry is a 'failed market'

Shawn, interim studies are continuing at the State Capitol.

On Thursday, lawmakers from the House and Senate heard from early childhood and childcare providers about the state of their industry.

The testimony reinforced what many parents are saying: finding adequate and affordable childcare is a big problem.

That's right.

Cynthia Osborne, executive director of the Prenatal to Three Policy Impact Center at Vanderbilt University, told lawmakers she uses the US childcare industry as an example of a failed market.

She said a market fails when it cannot provide enough of a good or a service that is beneficial to society at prices customers can afford, and that's exactly the problem parents have been describing in childcare in Oklahoma for several years now.

Lawmakers also heard that childcare is not just an issue for parents, but also for the workforce and the state's economy.

Adam Maxey, vice president of Government Affairs with the Oklahoma State Chamber, said they have heard from business owners and top executives in the state that the lack of affordable and adequate childcare affects their ability to hire staff.

77% of those business leaders name childcare as a major barrier for their workforce in a state chamber survey.

The most recent Ready Nation report from the Council for a Strong America found that every year the Oklahoma economy loses about $1.2 billion in revenue, productivity, and earnings due to a lack of childcare.

In this study and others, once the lawmakers hear testimony, what will they do about it?

Lawmakers will take the information they heard and determine what, if anything, the legislature might be able to do.

Then they work with state agencies, House and Senate staff, and draft legislation to address the particular issue, and we'll start seeing some of those proposals in a little over a month when the bill filing period opens.

Shawn, interim studies are continuing at the State Capitol.

On Thursday, lawmakers from the House and Senate heard from early childhood and childcare providers about the state of their industry.

The testimony reinforced what many parents are saying: finding adequate and affordable childcare is a big problem.

That's right.

Cynthia Osborne, executive director of the Prenatal to Three Policy Impact Center at Vanderbilt University, told lawmakers she uses the US childcare industry as an example of a failed market.

She said a market fails when it cannot provide enough of a good or a service that is beneficial to society at prices customers can afford, and that's exactly the problem parents have been describing in childcare in Oklahoma for several years now.

Lawmakers also heard that childcare is not just an issue for parents, but also for the workforce and the state's economy.

Adam Maxey, vice president of Government Affairs with the Oklahoma State Chamber, said they have heard from business owners and top executives in the state that the lack of affordable and adequate childcare affects their ability to hire staff.

77% of those business leaders name childcare as a major barrier for their workforce in a state chamber survey.

The most recent Ready Nation report from the Council for a Strong America found that every year the Oklahoma economy loses about $1.2 billion in revenue, productivity, and earnings due to a lack of childcare.

In this study and others, once the lawmakers hear testimony, what will they do about it?

Lawmakers will take the information they heard and determine what, if anything, the legislature might be able to do.

Then they work with state agencies, House and Senate staff, and draft legislation to address the particular issue, and we'll start seeing some of those proposals in a little over a month when the bill filing period opens.