Making a better future for the next generation in North Carolina.

Our Kids’ Brainpower Is the Best Investment for 2040

by | Oct 27, 2022 | Education, Featured | 0 comments

In 2022, a Vietnamese auto manufacturer called VinFast was looking for a manufacturing site. They hoped to make electric vehicles for the American market. North Carolina won! After NC offered grants and incentives worth $1.2 Billion, VinFast agreed to build its plant in NC and create 7,500 jobs. Nice win for .07% of NC’s population – at a cost of $160,000 per job! Not sure that was fair for the other 99.93% of the population.

In 2019, states and local governments in the U.S. spent an estimated $90 Billion to attract businesses. Corporations have figured out the game. They pit states against each other to get the best deals for themselves.

Are these subsidies the best investment for our kids’ future?

Will these investments create the best opportunities for the next generation? What if North Carolina used these funds to invest in the brainpower of their children? At the same time North Carolina offered $1.2 Billion to VinFast, EducationWeek gave it a “D+” for its school finance.

What if North Carolina directed funds away from corporate subsidies and toward educating its children? Massachusetts is the top ranked state for educational attainment. It spends $5,000 more per year per pupil than North Carolina. The result? Massachusetts sends more of its kids to college. Having better educated citzens shows up in higher incomes. Massachusetts’ median income per household in 2022 was $93,550 compared to North Carolina’s at $65,070.

Incomes rise with educational attainment

Census data supports a strong connection between levels of education and median personal income in the U.S. Take a look at these numbers from 2020:

Educational Level Median Annual Income

• 9th Grade Education, No Diploma: $ 16,175

• High School Diploma or Equivalent: $ 26,694

• Some College or Associate’s Diploma: $ 33,220

• Bachelor’s or Higher Diploma: $ 56,681

It seems clear that a strong K-12 system — graduating young adults who are college ready — is the foundation for prosperity in today’s world. Unless North Carolina invests the resources necessary for a top notch K-12 system, our children will not be able to compete and prosper in 2040.

What can we do?

Let’s ask state our legislators to stop subsidizing corporations and invest in our public schools! Send them a link to this article and tell them how you feel. You can contact them at: Find Your Legislators.

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