Gina Raimondo, Secretary of Commerce, believes that a "deeply misguided" political belief is harming the economy.

• Gina Raimondo, the U.S. Secretary of Commerce, advocated for CHIPS Act funding for semiconductor plants to be linked to CEO commitments to offer employees childcare services.
• At the CNBC Changemakers Summit on Thursday in New York, Raimondo stated that anyone who claims child-care policy is social policy is "seriously misguided."
• According to Jessica Chang, founder and CEO of Upwards, a recent Boston Consulting Group study found that the return on investment from child care ranges from 90% to 425%.

During her visit to a Samsung semiconductor plant in Texas on Monday, U.S. Secretary of Commerce Gina Raimondo was shown the building that would house on-campus child care and an on-campus job training center by the CEO of Samsung's chip division. In an interview with CNBC's Sara Eisen at the Changemakers Summit in New York City on Thursday, Raimondo recalled the encounter and said the Samsung executive added, "That's what we do in Korea, and we know it works, and of course we will do it here."

The CHIPs Act funding, worth billions, was tied to child-care services access plans by the U.S. government, but this did not sit well with all lawmakers.

Politicians on Capitol Hill disagreed with my stance, but business leaders recognize the importance of top talent, said Raimondo, who was named to CNBC's first Changemakers list earlier this year. Raimondo also added that anyone who believes child care is social policy is misguided and lacks business knowledge.

Raimondo, a lawyer who became a general partner at a venture capital firm and later served as Rhode Island governor, stated that providing access to affordable high-quality child care does not require companies to offer on-site care but does necessitate making it a core benefit, similar to healthcare, paid leave, and investments in continuing education.

Raimondo stated that she was not suggesting a specific method for them to follow. Instead, she emphasized that if they wanted taxpayer money, they needed to demonstrate their success potential. She also pointed out that companies couldn't succeed without attracting and retaining top talent. Raimondo added that child care was crucial for women to be able to work.

According to Jessica Chang, co-founder & CEO of Upwards, it is proven in economic terms that providing access to child-care benefits and services can have a return on investment of between 90% and 425%. Additionally, preventing just 1% of eligible employees from leaving their job can pay for the cost of child care as a benefit for the entire employee population.

"According to Chang, the decision to start a family is often viewed as the happiest day of a person's life, but for women, it comes with a choice: a career or family. Chang was faced with this choice and felt that it wasn't hers to make. Instead, society imposed the decision on her. If she chose to stay in her career, her entire post-tax pay would have gone towards child care, and all the providers in her area were waitlisted. Even if she could find a spot, she would have to choose between going back to work and not spending time with her child or adding to her family's finances."

"Chang, who made CNBC's first Changemakers list, expressed frustration during a meeting with a male partner who questioned the legitimacy of the child care crisis. If she could go back, she would have left the room."

"Raimondo emphasized the importance of economic policy over social policy in the business community. She highlighted the need for women's participation in the economy and the crucial role of child care in achieving this. She urged companies to increase the number of women in top positions and emphasized the need for support to help them achieve this goal."

Not enough child care services are available at an affordable cost for half of Americans, according to Raimondo.

Raimondo stated that the issue at hand is commercial, not just a women's or social issue, during a Commerce Department child care summit in June.