I’ve dealt with this one differently with different of my kids. I think the most important thing is to look for the best childcare situation, the one that you’ll feel best about leaving your child in. Then, all things being equal, there are plusses and minuses on both sides. If the childcare is near your husband’s job, you are spared some of the hassles of getting the kid out the door in the morning — when I first went back to work, it really helped to have my husband getting Pete mostly dressed and in the car – it meant that I only had to get myself out the door, which seemed hard enough. Also, it meant that I got home first and could have a few minutes to relax and get dinner organized before they got home. Later, Pete was at a school where I could take him, and I enjoyed the drive to and from work with him very much — it was our best conversation time. The only real disadvantage of having childcare close to a job and relatively far from home is what happens when you change jobs.
I would suggest finding the best possible child care, putting preference on close to home. If you have confidence in the care giver the distance will not be so great. If something really terrible happens they will get your child to a hospital faster than you could leave work, pick them up, etc. No matter where the child care is located. Talk to the doctor about medical release forms if you are really worried. My preference on close to home deals with how much time you want to spend in the car, during rush hour, with a tired hungry child. Remember that the childcare jobs location you are choosing will be used for several years.