St. Paul, MN (February 18, 2009): A new study released today finds that state funding for housing infrastructure, both new construction and rehabilitation, is a powerful tool to create jobs, economic activity and public revenues while addressing the housing crisis across the state. Based on the analysis in this report, for every $1 million of state investment in the Challenge Fund, plus the $5.6 million of funding leverage it generates, Minnesota benefits over 5 years from from $8.8 million in wages, $16 million in spending, and $1.1 million in tax revenues. The state also creates 40 affordable homes.
Practical Application: Now What?
This year we are advocating for state investment in pipeline projects, public housing bonds and the Challenge Fund at the legislature. All of these investments provide an economic benefit almost immediately. Please click on the links below for more information.
Public Housing Bonds
Pipeline Housing Projects (a.k.a. "Shovel-Ready")