With the release of today’s Wilder Research economic impact report on Michigan, it’s clearer than ever that investing in early childhood efforts isn’t just a “feel good” proposition.

It’s sound business for tough times.

As the report says, “The cost savings and revenues realized in 2009 due to the investments in school readiness over the past 25 years is an estimated $1.15 billion.”

That astounding annual figure is likely to be the same - or higher - in coming years, Wilder researchers say, unless state funding drops.

The savings are generated, according to researchers, by current school children who received quality early childhood services and by young adults who were more successful because of school readiness programs.

That’s just one side of the coin, however. The Wilder study also notes that there are significant annual costs to the state by not fully funding early childhood: “The ongoing cost burden of not investing in school readiness for all disadvantaged children is an estimated $598 million per year.”

Wilder based that figure on a Michigan State University study, which estimated there are 35,000 additional low-income 4-year old children in Michigan who are eligible but not currently served by a Great Start Readiness Program or Head Start program.

Considering the savings created by maintaining early childhood funding and the damage caused by lowering spending, it seems obvious that, despite a looming $1.6 billion budget shortfall (Detroit News) in fiscal year 2011, lawmakers would be unwise – foolish even - to look to early childhood as a source of budget savings.

If the state’s investments in early childhood programs were to be cut, future state budgets and the overall economy would suffer. Not investing in school readiness would cost Michigan much more over time than supporting these programs costs today.

It’s only too clear.

Judy Samelson is the Chief Executive Officer of the Early Childhood Investment Corporation.