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Michigan’s Tri-Share Program: One Promising Childcare Solution for Working Parents

Abstract: For working parents of young children, finding accessible and affordable childcare is essential for having employment, which, in turn provides economic stability and opportunities for their families. Childcare is also vital for employers: As part of the Chicago Fed’s regular outreach throughout the Seventh Federal Reserve District, we heard from employers who have had difficulties in hiring and retaining workers because of the challenges parents have had in finding and affording childcare. Recognizing this need for childcare among both parents and employers in Michigan, the state legislature developed and passed a new policy in 2021 to implement a public–private partnership called Tri-Share, through which employers, the state government, and working parents share childcare costs equally. The objectives of the Tri-Share program are to reduce childcare costs for families, help businesses retain and hire employees by expanding access to affordable childcare, and support greater stability and growth for licensed childcare providers.

Keywords: Childcare; Community development; Regional economics;

JEL Classification: J13; J24;

Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Publication Date: 2024-04