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 Education is the cornerstone of America's prosperity and the industry continues to grow rapidly, with revenues totaling $102 Billion in 2001.1 Within the industry, the largest revenue-generating sector is pre-K through 12, which alone generated $58 Billion, or 23% of overall industry revenues.2 Additionally, the industry is poised to see tremendous growth beginning in 2002 with the passage of the "No Child Left Behind Act of 2001", which provides Federal funds to provide supplemental education services to children at failing schools.
The nationwide need for supplemental educational services is as overwhelming as the statistics are dire. In 2002 only 32% of fourth-graders could skillfully read at grade level3 and, despite increased government spending, test scores continue to plummet. In 1972-73, each $1,000 spent by the government per student produced 63 points on the National Assessment of Education Progress math test, but by 1998-98 the same spending produced on 39 points.4 With the grim state of the education system, as well as escalating public frustration, there are enormous growth opportunities open to the private sector.
As the pioneer provider of supplemental education, Huntington Learning Center has established success by responding to the urgent need for supplemental education services. According to Newsweek, "Huntington [is] working to make remedial instruction a commodity as ubiquitous and accessible as frozen yogurt." And as the industry continues to grow, Huntington Learning Center is uniquely positioned to maintain its leadership role.
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