In light of historic budget cuts recently implemented by Gov. Chet Culver due to a downturn in revenue projections, the state should increase its investment in postsecondary education for low-income adults. The investment would improve economic prospects for Iowa families, and in the process boost the state budget, according to the nonpartisan group Iowa Policy Project.

Research by the Iowa City-based public policy research and analysis organization found that the state can garner $3.70 in increased tax revenue for every dollar invested in helping a low-income adult get an associates degree and $2.40 for every dollar invested in a bachelor’s degree.

The group points to a projected shortage of skilled labor combined with the rising cost to families for postsecondary education as proper motivation to invest in the state’s workforce.

“When low-income adults have access to increased education and training, their lifetime earnings increase substantially, generating tax revenue for the state that more than offsets the cost of investing in this access,” said Lily French, research associate and outreach coordinator for Iowa Policy Project, later adding: “An investment in workforce skills would prepare Iowans for the future and contribute to rebuilding our economy.”