The FCAT can impact the economy in several ways. According to Fishkind and Associates, areas where FCAT scores are high because of a particular school tend to have higher home values. Employers use FCAT scores as part of their screening process to determine where to locate their place of business. The FCAT also provides Florida taxpayers with a way to measure government spending on education. In addition, glitches in the computer system and scoring can delay the dissemination of test scores, costing schools thousands of dollars. The FCAT also uses up a lot of school funding.
FCAT scores don't account for children from different social, economic, emotional, cultural and cognitive backgrounds, nor does it account for students who are poor readers and test-takers. There is a stigma attached to children who don't do well on the FCAT. Also, the students, parents, teachers and administrators of schools that rank low are under lot of pressure to raise their scores with less money.
Legislation is working on several proposals to phase the FCAT out. Critics of the FCAT want to replace the FCAT with end-of-the-year comprehensive exams.
Teachers are no longer allowed to be creative in their curriculums. Class curriculums support FCAT testing and do not allow time for other subjects and areas, which puts a damper on the music and arts. Also, higher-ranked schools get more money for funding which has an indirect local economic impact in that it increases the attractiveness of the school district. This draws in potential employees and large employers, therefore increasing the tax base of the school district over time. Multiple long-term effects would be an increase in the city budget and an increase the local representation in the district and county, which would improve teacher recruitment and student recruitment.