As the province prepares to roll out its new full-day kindergarten program a recent study suggests investments in early learning will pay off significant dividends, providing big economic and societal benefits.

On Monday the Centre for Spatial Economics released a report on full-time schooling for four and five-year-olds and extended child care options. In it, the group claims investments in young children pay for themselves.

The study, led by economist Robert Fairholm, shows every dollar invested in early learning and childcare boosts the GDP by $2.02 – that’s one of the highest returns of all major sectors.

The report also suggests that every $1 million spent on educating and caring for little kids creates 29 jobs – that’s one-third more than the number of jobs created spending the same amount of money in the construction industry.

The province will see a $2.42 payback on its early learning investments by way of increased earnings, improved health and reduced societal costs, according to the study.

Nearly 600 schools across the province will be offering full-day kindergarten starting in September (find out which schools will have it here). Next year, 200 more schools will have the full-day programming. The provincial government is aiming to have the program in all schools by the 2015-16 school year.

Some schools will also offer child care services that extend beyond school hours for a modest charge. It’s up to individual boards to decide whether or not they will offer that service.

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