In 2010, United Way of Salt Lake, Voices for Utah Children (Voices) and Granite School District (GSD) began laying the groundwork for a sustainable, large-scale financing mechanism for high quality preschool. Voices, in partnership with UWSL and GSD, conducted a longitudinal study of the GSD high-quality preschool program and demonstrated that approximately 33% of low-income 3 year olds would likely end up in special education without significant intervention. However, of those that received preschool through GSD, 95% were able to avoid special education, allowing the State of Utah to avoid costs of $2,607/year for 12 years for each child. These results have now held for five years. This significant cost avoidance creates the conditions for results-based financing (also referred to as a "pay for success investment"). Results-based financing or pay for success investments are innovative and emerging financial instruments that leverage private financing to support high impact social programs. The goal of pay for success investments is to use private capital to achieve positive social and economic outcomes while at the same time generating cost savings to the government and providing modest financial returns to investors. (author abstract)