Image courtesy Pixabay.

As we stand at a pivotal moment for Sarasota County's economic future, it is crucial to recognize the profound impact of Sarasota County Schools as a cornerstone of our local economy. Recent polls underscore the community's concern about our economic trajectory in 2024, making this an opportune time to highlight how investments in our public schools enrich educational outcomes and drive economic growth and prosperity for all residents.

Driving Local Employment and Economic Activity

Sarasota County Schools is an educational institution and a major economic force, employing over 5,000 people annually. The district has a long legacy of achievement and consistently attracts high-quality, innovative personnel, not only locally and within the state of Florida, but from across the country and throughout the world.

Our commitment to recruiting, hiring and retaining a talented workforce translates into substantial economic activity, with our employees contributing approximately $450 million annually to local businesses through expenditures on housing, food and other essentials. Moreover, our annual spending of $375 million on local goods, services, and capital projects generates an additional 4,500 jobs and injects $280 million into our local economy.

Investing in Future Generations

Investments in our schools are investments in the future earning potential of our students. Improving educational outcomes – such as increasing test scores by 5% over the next two decades – could lead to a significant $55,000 annual increase in personal per-capita income for our graduates. Furthermore, preparing students for higher education could increase their lifetime earnings by an average of $1.2 million per individual. Pathway programs like apprenticeships offer a remarkable return on investment, with every dollar spent returning $15 in societal benefits.

Enhancing Property Values and Community Well-Being

Strong public schools enhance property values and stimulate housing demand. For every thousand dollars invested in public education, home values in our community increase by an estimated $20,000. Homes near high-performing schools command prices on average of $205,000 higher than those near lower-performing schools. Early childhood education programs boost property values and expand our tax base, potentially generating an additional $2.5 billion in wealth creation over two decades, significantly bolstering property tax revenues.

Fostering Community Prosperity and Reducing Social Costs

Investing in student achievement is not just about economic returns; it enhances community well-being and reduces long-term societal costs. Closing achievement gaps could boost Sarasota County's GDP by billions of dollars annually by 2050. Furthermore, adequate public school funding has been shown to reduce student interactions with the criminal justice system, potentially saving $1.7 million annually in public spending for every 55 graduates.

Continuation of the Millage for Sarasota County Schools

As we approach the decision to maintain our millage ad valorem tax, it is evident that the economic benefit of Sarasota County Schools is vital. Our role as a local economic engine strengthens our community's prosperity – investing in our schools today is an investment in a prosperous future for Sarasota residents and businesses. Please visit sarasotacountyschools.net/referendum to learn more about the referendum on the Nov. 5 ballot for Sarasota County Schools.
Terry Connor is Sarasota County Superintendent of Schools.

Image courtesy Pixabay.