What if child care could make you rich?

Despite working in child care for 25 years, Crystal Romero has never seen a shift like the one taking place in New Mexico. “Twenty years ago, I had to furnish classrooms by shopping at thrift stores and yard sales, sanding things myself and repainting them,” she said. What if child care could make you rich? When state funds are invested, the economics of operating a child care center change. So can the players. Rebecca Gale is a reporter with the Better Life Lab at New America, where she covers child care. Today, Romero and her husband own and manage Early Learning Academy, which consists of four child care centers in the Albuquerque region; they are under contract to add two more locations in 2026. With approximately 165 employees and close to 700 children enrolled, Romero says they are the highest-paying child care program in the state, and all employees are eligible for full benefits, including health, vision, dental, and retirement. In October, Romero announced, to cheers and shrieks, that every staff member would get a $5 an hour raise. All this is possible because of New Mexico’s investment in child care, first through American Rescue Plan dollars , then through higher child care subsidies and now with the state’s universal child care program. (The program isn’t perfect, as subsidies aren’t reaching all the families that qualify and the state may not have enough providers to meet demand, but it’s a laudable effort.) The state’s subsidy pays for full-time child care, even if children only show up for three or four days each week. By studying her average daily attendance records, Romero is able to enroll more students while keeping her staffing levels the same, and without going over the state-mandated teacher-to-child ratios. She keeps floaters on hand to allow her staff to take breaks, so in the rare event of more students showing up, she can still provide appropriate cover. As part of its community program, ELA hosts an annual event where every child gets a brand new pair of shoes. “Nikes and Air Jordans,” she explained. “We gave away 500 at this location,” she says, of the original Early Learning Academy in west Albuquerque. This year, they sponsored a Make-A-Wish request for a child in their community with a brain tumor and paid $8,500 to send the family to Disney World. Her staff lounges have free snacks and leather recliners, and photos along the wall where she and her husband are pictured at local university basketball games and community events on behalf of their organization. Child care has long been an industry known for slim margins. But an influx of government funding can change the business model of any sector - and New Mexico isn’t the only state changing the economics of owning and operating a child care center. Vermont has invested in child care through Act 76, which has increased the number of families qualifying for subsidies and raised the subsidy rate for providers. Massachusetts has set aside...

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