If we don’t pay for education, we pay a dear price in the long run

When I joined Seattle Business magazine four and a half years ago, the state and national economies were in shambles. Banks were going out of business; enterprises were sharply cutting back on investments and laying off workers. Even stalwarts of our region such as Boeing, Starbucks and Microsoft were struggling.

Now, as we head into August, the best time of year here in the Northwest, our economy is looking healthier. Housing prices have recovered strongly, theres a lot of construction activity and unemployment is finally beginning to decline. Although there are still two unemployed people for every available job, in many specialties, companies are once again aggressively hiring. Thats good news for our region.

And right through the recession, weve seen other positive numbers, according to the Technology Alliance. In research and development conducted by industry, Washington state ranked third in the nation in 2010, up from fifth in 2003, with companies collectively spending an impressive $13.5 billion annually. That amounts to $2,000 per Washington state resident, second only to Massachusetts.

In university licensing activity, we shot up from 17th in the nation in 2002 to eighth in 2011, while in patent activity we rose from 11th to fifth over the same period. We also remain strong in the number of scientists and engineers we have on a per-capita basis, rating fifth in the nation.

But at the Technology Alliances annual State of Technology Luncheon in May, there was also plenty of troubling news. Were 37th in the nation in preschool enrollment, an important indicator of later success. Were 20th in fourth-grade reading and 17th in fourth-grade math. In the percentage of students who graduate from high school, we are a pathetic 31st in the nation, having fallen from 29th in 2000. Finally, only 48 percent of our high school students go on to college, putting us 46th in the nation.

Weve done OK because weve been able to import talent. But how sad is it that we as a community are unwilling to invest in our own children? In terms of dollars we spend on education, we rank 25th in the nation. And in funding for higher education, we are 49th.

If we dont improve our educational system, we not only hurt the nations economic environment, we create conditions more conducive to crime and unemployment, which can raise social costs that burden the state. We would do better to spend more money on education than prisons.