American Eagle Outfitters Touts Benefits of a Pre-Kindergarten Scholarship Tax Credit for Pennsylvania Companies

Published on Wednesday, 25 January 2012 09:05 Written by TradersHuddle Staff

PITTSBURGH-( Business Wire )-

American Eagle Outfitters, Inc. (NYSE: AEO) is taking advantage of the Pre-K Scholarship component of the Educational Improvement Tax Credit program (EITC) by donating to the YMCA Child Development Center at Duquesne University and the Arsenal Family and Children’s Center located in Friendship. Both organizations, along with almost 1,000 others in the state, are officially rated as high-quality programs through accreditation by the National Association for the Education of Young Children and by participating in Keystone STARS at a STAR 3 or 4 level. Companies that donate to approved pre-kindergarten scholarship organizations are eligible to receive a tax credit equal to 100% of the first $10,000 contributed and up to 90% of the remaining contribution up to a maximum credit of $150,000 annually.

“When children start school ready to learn, they grow into highly capable, responsible adults who are able to fill the jobs that we’ll have waiting for them,” said Marcie Eberhart, director of the American Eagle Outfitters Foundation. “With so many quality programs to choose from, along with the pre-kindergarten EITC tax credit, we’re encouraging our fellow Pennsylvania businesses to consider a contribution.”

The pre-kindergarten EITC was established to support increased funding to high-quality early childhood programs, thereby improving their long-term effectiveness and benefits to the state overall. Research shows that children who fall short of reading proficiency by third grade are likely to drop out of school and therefore lack the skills that employers demand. Additionally, disadvantaged children can start to trail their higher-income peers in education achievement by as early as 18 months of age. Every dollar invested in quality prekindergarten counters the consequences of that gap by returning more than $16 through lower spending on crime and welfare, plus higher tax revenues from citizens earning better salaries. *

In less than two decades, American Eagle Outfitters and employers all across Pennsylvania will start hiring today’s infants, toddlers, and preschoolers. Applications for the tax credits are accepted beginning July 1, 2012. For more information, including a list of qualifying non-profit organizations, or to apply, visit www.newpa.com/eitc.

*Lifetime Effects: The High/Scope Perry Preschool Study Through Age 40 (2005).

About American Eagle Outfitters

American Eagle Outfitters, Inc., through its subsidiaries, (“AEO, Inc.”) offers high-quality, on-trend clothing, accessories and personal care products at affordable prices. The American Eagle Outfitters® brand targets 15 to 25 year old girls and guys, with more than 937 stores worldwide, and online at www.ae.com. aerie® by american eagle offers Dormwear® and intimates collections for the AE® girl, with 158 standalone stores in the U.S. and Canada and online at www.aerie.com. The latest brand, 77kids® by american eagle®, is available online at www.77kids.com, as well as at 21 stores across the nation. The 77kids brand offers “kid cool,” durable clothing and accessories for kids ages zero to 14. AE.COM®, the online home of the brands of AEO, Inc. ships to 77 countries.

For AEO:Sam Nelson, 412-432-4500nelsons@ae.comorFor DCEDEdward Jordan, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.