The child care industry is vital to states’ economic success. In 2019, the U.S. child care industry produced a total revenue of $47.5 billion and generated an additional $52.1 billion in "spillover" (output) in other industries for a total economic impact of $99.3 billion. Yet, it is estimated that inadequate child care costs working parents $37 billion a year in lost income and businesses more than $13 billion a year in lost productivity nationwide. Furthermore, when child care and schools closed during the pandemic, it was estimated to cost about $700 billion in lost revenue and productivity, about 3.5 percent of the national gross domestic product (GDP). Investing in early childhood can result in significant returns.