TAMPA, Fla. — Childcare is expensive. That’s not new information, but so many parents want to know what is being done to fix the issue.
“We need more wins. This is our year. This is our year to get more wins!" said Dr. Fred Hicks, the CEO of the Early Learning Coalition of Hillsborough County.
Dr. Hicks knows a thing or two about childcare needs. It’s why he’s a major advocate for the childcare tax credits for businesses.
“Parents would be elated to know that their employer said, you know what, I care about you enough that I’m going to get this tax credit, and I’m gonna give you $300 a month towards your childcare costs," he said.
Like we told you in October 2024, if a business opens an on-site childcare facility for its employees or helps offset the cost at a facility in the community, it’ll get a tax credit.
“I think it’s hard sometimes for moms to get back into the workforce, and they choose to stay home because of that," said Sara Weber, a mom in St. Petersburg.
It’s true.
Last year, we told you that the Florida Chamber Foundation did some research and found childcare issues are the number one reason Floridians leave the workforce or change jobs—nearly 70% of children live in homes where all parents or caretakers work.
Makayla Buchanan is the director of early learning and literacy.
“It is a big deal for employers. It hurts their bottom line, and that’s money they pay in turnover costs. Those absentee costs add up to that $5.4 billion," she said.
Applications for the Child Tax Credit Program opened on October 1. So far, out of 22 applicants, three have been approved, which equals about $857,000 in credit allocations. Others are still being evaluated, but most of the businesses denied didn’t meet certain qualifications.
However, optimism around the program remains strong.
“Folks are coming. They want to learn more, how they can take advantage of it," said Buchanan. "I actually toured one facility that is in Southwest Florida who is utilizing the tax credit, and they’re building on site, which is a pretty expensive endeavor for an employer to do, but they’re doing it for themselves as well as some other companies within that same area.”
Both Buchanan and Dr. Hicks say the success of the program relies on word of mouth. Dr. Hicks suggests you talk to your employer to see if they’d be willing to apply.
Dr. Hicks is also preparing packets for big businesses to hopefully grab their attention.
“I’m going to all the big ones! I’m going to our Walmart or McDonald’s or Busch Gardens—all of those large employers—just know that I’m coming," he said. "I’m gonna come bring you a folder, and I’m gonna say to you you’re losing out and what you could do for your employees, it’s so valuable.”
If you're interested in applying, click here.
For more information on the program, click here.
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