Few spend much time thinking about how much it costs to raise a child before they become pregnant.

According to a recent Brookings Institution analysis of data from the U.S. Agriculture Department, most families will spend about $310,605 from the day their baby is born until the day the child turns 18. That breaks down to approximately $17,000 a year.

Whether a child resides in a two-parent home, a single-parent household, or in an alternative setting, like foster care or with grandparents, in the vast majority of cases, their primary caregiver must work to make ends meet. Very few are lucky enough to have a dependable relative, neighbor, or friend provide childcare free of charge.

Considering the number of years women are fertile, most families with children are fairly young. It’s safe to say the majority have not reached their peak earning potential.

Two-parent families often end up facing a serious dilemma. Does it make more sense for both parents to continue working? Should one parent stay at home to care for the child? Single-parent households usually don’t have a choice. Even those on Temporary Assistance for Needy Families (TANF) must meet work requirements. Consequently, nearly everyone works, as evidenced by the current 3.5% unemployment rate in the United States.

Many young parents must make ends meet while earning the minimum wage, now $14.20, or $29,536 annually for those with a 40-hour-a-week job. According to the Day Care Council of New York, child care costs approximately $406.00 per week or $21,112 a year for children under 1¢ in a daycare center. Costs go down a little as children get older until they reach approximately $300.00 per week, or $15,600 a year for 6-12-year-olds. Average prices for family day care homes are a bit less, at $325.00 for children under age two and $250.00 for six- 12 year-olds, or $16,900.00 to $13,000 annually per child.

When looking at the economic costs parents grapple with, it’s important to remember that many families have more than one child needing care. While discounts may be available based on family size, childcare providers’ costs don’t decrease. They are required to maintain specific ratios of adults to children based on the age of the children, so they can’t afford to reduce their rates much and still be able to pay their staff.

Do the math. A single-parent minimum wage earner with an infant in a daycare center would need to spend well over 70% of their income on child care alone, leaving them $8,424 a year, or $702 a month, for everything else, including rent, food, clothing, and medical care. Thankfully, income-based subsidies can help with those costs, but these subsidies are not guaranteed.

The importance of high-quality child care to a child’s social, emotional, and educational development can’t be overstated. Nor can the need for enough childcare providers to meet the demand.

Equally important is affordable and reliable child care’s impact on the economy. Childcare is an issue that impacts us all, not just those in their child-rearing years.

According to a recent study by ReadyNation, families in the United States lose over $70 billion in earnings yearly due to childcare challenges. Employers lose $23 billion annually due to resulting productivity problems, and taxpayers lose $21 billion each year in lower federal and state/local tax revenue from those companies and workers.

The Northern Chautauqua Community Foundation’s Local Economic Development committee understands how essential high-quality, reasonably priced child care is to our economy and strongly supports expanding childcare availability and affordability.

Our businesses rely upon a reliable workforce that can concentrate on their jobs, knowing their children are well cared for in a safe, nurturing setting they can afford.

Patty Hammond is Economic Development Coordinator for the Local Economic Development organization of the Northern Chautauqua Community Foundation. Send comments to phammond@nccfoundation.org