Article Link: http://exchangepress.com/article/employer-child-care-growth-and-consolidation-continues-status-report-11-on-employer-child-care/5014114/
The past 12 months have been eventful ones in the employer child care arena. This blue chip niche in the child care industry continues to grow and to consolidate. Some of the more significant recent developments:n The omnibus tax cut package that President Bush succeeded in pushing through Congress this spring included an historic tax credit for work-site child care. The measure encourages employers to assist their employees with work-site child care by providing a 25% tax credit for costs associated with providing that child care and a 10% tax credit for child care resource and referral.
n The consolidation continued as last year's third largest player in the employer child care arena, KinderCare Learning Centers, acquired the fifth largest, Mulberry Child Care Centers.
n Childtime Children's Centers recently named James Morgan as its new CEO. In taking the reins, Morgan observed, "After years of center expansion and revenue growth, in 2001, we are focused on improving utilization, eliminating centers with limited growth potential, and improving the quality/
delivery of our services."
n ARAMARK, the parent company for ARAMARK Educational Resources filed with the SEC for an initial public offering to raise capital for strategic initiatives.
n La Petite has launched a new service for business travelers and convention-goers. ...