Kitchener parents are excited by the prospect of paying less for child-care, following a deal signed Monday between the federal and provincial governments.

The new agreement will see child-care fees cut in half by the end of the year and rebates retroactive to April 1 handed out to parents in May. The province said the deal would result in an average of $10 a day for child care by September 2025.

“I think that is such a great idea I am so excited about,” one parent told CTV. “Right now we have our little girl in daycare and it came at the perfect time, now with me going back to work.”

According to the Region of Waterloo’s most recent survey, local families pay between $9,012 and $23,939 annually for one child to be in full-time licensed child-care.

The survey revealed at least 3,000 new child-care spaces are needed in order for children aged zero to four to have a spot.

Monday’s announcement is also great news for not-for profits like Rising Oaks Early Learning Center.

“I think it’s an exciting day for Ontario families and even for our workforce it’s a historic moment really,” said Lori Prospero, Rising Oaks Early Learning Ontario CEO.

Prospero says the 86,000 new child-care spaces the province is promising means more workers will be needed too.

“Making sure we have enough educators, making sure we can attract high-quality educators, they’re really going to have to address the work force issues in order to do that,” she said.

The YMCA is the province’s largest not-for-profit child-care provider. The YMCA of Three Rivers says new deal is great news, but they are still waiting for details.

“The devil is in the details,” said Peter Sweeney, YMCA of Three Rivers CEO. “If there is an opportunity for the Y to be able to deliver on some of those spaces, we will put our hand up.”

Licensed home-care will also be able to take advantage of the funding model, and some argue they may be able to open spaces even faster.

“Our wait lists, we get through them a lot faster then maybe a centre is able to because we’re not limited to the space that is in a centre,” said Marcia Weddell with Wee Care Kitchener/Waterloo. “We are per home, so the more people that want to sign up with us, the more space that we will have.”

Parents of older children wish the news came earlier.

“I definitely wish this was there when he was young,” said one. “It definitely would’ve kept a lot of money in our pockets for sure.”