State of Illinois caregiver programs generate $5.3 billion in economic activity
Press Release | July 21, 2015
SPRINGFIELD, IL – State-funded caregiver programs for children, seniors, and people with disabilities generate $5.3 billion in economic activity in Illinois each year, according to an economic impact study released by Innovation Illinois on Tuesday.
The report examined the budgets of caregiver programs in Fiscal Year 2013 and found that, in Fiscal Year 2013, the State of Illinois paid nearly $2.6 billion in combined state and federal funds to provide childcare for low-income working parents and to give in-home care to seniors and people with disabilities.
The Innovation Illinois report found that: -The State’s caregiver programs directly created 144,062 caregiver jobs in Illinois and indirectly created an additional 66,591 jobs in communities across the state. -The State’s caregiver programs brought a total of $1,141,781,585 in Federal dollars back home to Illinois taxpayers in FY 2013. -By helping clients to stay out of nursing facilities, in-home care programs for seniors and people with disabilities save Illinois taxpayers up to $1 billion each year. -The State’s investment of $1,422,006,814 in General Revenue Funds (GRF) in caregiver programs in Fiscal Year 2013 generated a grand total of $5,311,728,317 in economic activity in communities throughout Illinois. -Every dollar of GRF spending invested in caregiver programs generated an average of $3.74 in economic activity. “Beyond the benefits and respite that caregiver programs provide to clients and their families, these programs are drivers of economic development,” said Michelle Saddler, Innovation Illinois’ Chief Executive Officer. “As this study shows, these programs drive real, measurable, positive impacts on our overall economy. They save taxpayer dollars, create jobs for caregivers, recapture Federal funds, support jobs throughout the community, and generate vital economic activity throughout Illinois.” Innovation Illinois is a nonpartisan research-based advocacy organization dedicated to shaping, promoting, and implementing progressive public policies that reflect real world-tested best practices. The mission of Innovation Illinois is to advocate for ideas that create growth and champion the interests of working men and women and their families.