Pay to Play: Industry Revenue Will Grow Due to the State's High Cost of Child Care
Day Care in Illinois
Over the five years to 2017, the Day Care industry in Illinois has struggled due to unfavorable demographics and a higher than the national average unemployment rate. Despite increasing disposable income levels, the unemployment rate in Illinois remains higher than the national average. The high cost of child care in Illinois remains one of the primary factors that discourages families from seeking center-based day care. According to a report published by Child Care Aware of America in 2015, Illinois ranks third for the most expensive child care in the United States. Additionally, Illinois currently does not offer child tax credit or child and dependent care tax credit. The industry outlook is expected to be more positive than in the previous five years, with industry revenue forecast to increase. As the state's economy continues to strengthen, disposable income will increase. With more cash on hand, households will be better equipped to afford the cost of day care services.
Industry operators provide day care services for children, primarily those under the age of five. Industry operators may also run preschool programs that prepare three- and four-year-olds for kindergarten. However, kindergarten education is excluded from industry services, as are in-home nanny services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Bright Horizons Family Solutions Inc.
- Learning Care Group Inc.
- Goddard Systems Inc.
- Kiddie Academy Child Care Learning Centers
- Teddy Bear Day Care
Methodology
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