The Mind Trust: Attracting Supporting and Empowering Educational Entreprenuers in Indianapolis, Indiana

improving the city’s economic
and social health

Students are the immediate beneficiaries of The Mind Trust’s activities – both through the direct impact of ventures backed by The Mind Trust and through its catalytic effect on the overall public education system. From there the benefits of stronger public education will spread more widely, contributing to the city’s health in many ways, including:

Economic development. Employers seeking to start new businesses or expand are increasingly looking for communities with strong educational systems, for two primary reasons. First, in the 21st century knowledge-based economy, companies need a steady supply of well-educated employees equipped with the knowledge and skills required to compete. Second, companies know the quality of local schools is a key attractor for all employees, and especially for highly sought after managerial, professional, and technical staff. Schools are more and more the key to economic progress for cities.

Neighborhood revitalization. Better schools can also play a central role in reviving specific neighborhoods within a city. By making a neighborhood attractive to parents, good schools can be a catalyst for in-migration of families. In addition, a revamped school facility can serve as a physical anchor for the community, a venue for a range of community services and events that expand the school’s impact beyond the students in attendance.

Rising house prices. Numerous studies have shown that home values are significantly higher in areas with better schools. According to the Federal Reserve Bank of New York, for example, a 5% difference in test scores is related to a bump-up in housing values of nearly $4,000 per home.  Rising home values, in turn, create wealth for citizens and yield fiscal benefits for the public sector that can be reinvested in further enhancements to the community.

A range of other social and economic benefits. Research shows conclusively that stronger education is linked to a wide range of individual and society-wide benefits including improved health, lower crime rates, reduced homelessness, and other payoffs.