Commerce Secretary Gina Raimondo addressed the inaugural National Child Care Innovation Summit on June 28, 2024. In her remarks, she emphasized the economic implications of childcare, describing it as a critical issue affecting families, businesses, and communities.

Raimondo highlighted the significant impact of inadequate care infrastructure on the economy. "The lack of investment in our care infrastructure is costing us dearly," she stated. She pointed out that many Americans are struggling to balance their jobs with caring for children or elderly relatives.

Reflecting on her personal experience, Raimondo shared how finding affordable and trustworthy care was crucial for her career. She recounted how her mother played a pivotal role in caregiving within their family. "For my sister, my brother, and I, she was the caretaker when our kids were little," Raimondo said. Her mother had to leave her job upon becoming pregnant but insisted that her children pursue their careers while she took care of their babies.

Raimondo acknowledged that not all families have access to such support and highlighted the high costs associated with childcare. "We all know childcare costs can be exorbitant for families," she remarked. The current situation is unsustainable for families, employers, and providers alike.

To address this crisis, Raimondo called for substantial public investments in the care economy and stressed the need for both short-term and long-term solutions. "It’s going to take all of us working together – federal and local governments, the private sector, care providers, and community stakeholders – to improve access to care," she asserted.

The summit brought together a diverse group of participants including executives from major corporations, small business owners, advocates, philanthropic leaders, economists, and providers from over 40 states. Raimondo expressed optimism about achieving meaningful progress through collaborative efforts.

"I’m excited to get to work," she concluded.