This white paper from Prepared to Teach outlines the case for and an approach to addressing New York state’s ongoing teacher quality, diversity, and turnover challenges. The paper builds on research indicating that shifting the economics of teacher preparation to invest in funded teacher residencies can help promote educational quality and equity. The paper provides findings from 6 years of research, pointing to a number of teacher retention and quality benefits linked to investing in district-aligned teacher residencies. These benefits include a higher 3-year retention rate in New York City Schools (80–93%), fewer disciplinary referrals in the residency year, and reduced turnover. The paper outlines principles for system redesign and provides modeling findings to make the case for the investment. This white paper would be an interesting resource for policymakers, school district leaders, or educator preparation programs considering whether the investment in a residency program is worth it in the long term.