Reading has been at the forefront of early-grade educational interventions, but addressing the educational needs of students in math early on is also critical given that early gaps in math skills widen further over the course of schooling. In this study, we examine the effects of Kentucky's Math Achievement Fund -- a unique state-level program that combines targeted interventions, peer-coaching, and close collaboration among teachers to improve math achievement in grades K-3 -- on student outcomes and the costs associated with this policy. We find significant positive effects of the program not only on math achievement, but also on test scores in reading and non-test outcomes including student attendance and disciplinary incidents. The benefits exist across racial/ethnic groups and students from different socioeconomic statuses, and they are slightly higher for racial minorities. These findings, along with the cost estimate of the program, suggest that this program could provide a cost-effective blueprint to address the educational needs of students in math in early grades.