| Housing as an Economic Stimulus |
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| About the Report |
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OHCS investments strengthen families, help children finish school, and provide safe affordable housing for all kinds of low-income Oregonians. These investments mean more than homes—they create jobs, increase activity at local business, and generate tax revenue. Each $1 Oregon Housing & Community Services (OHCS) spends on affordable housing development generates as much as $15 in economic benefit across the state.
The new Housing as an Economic Stimulus report highlights the agency’s progress toward achieving its strategic objective of better describing the economic impact of affordable housing development.
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| Tying into Strategic Planning |
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The second goal of the OHCS 2003-2005 strategic plan focuses on how housing investments stimulate the economy. The goal’s three components:
- assist communities where lack of affordable housing is an impediment to economic development.
- reliably project the short-term impact of investments in affordable housing.
- provide Internet access to support low-income person’ access to services, information, and the computer skills required in today’s job market.
OHCS continues to target housing funds facing the greatest needs for affordable housing and now requires all new construction and major rehabilitation projects to provide high-speed Internet access. To achieve the third component of the goal, OHCS acquired and developed a powerful new economic modeling tool. The tool, known as IMPLAN, describes the short-term impact of affordable housing development.
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| Report Findings |
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Among the report’s most notable findings:
- every $1 in project labor income generated additional $1.20 or more in labor income across the state.
- each job supported or created through housing development generates another one or more at the local level. Statewide, every job generates another one and one half jobs, on average.
- every $10,000 in rental income generates more than $19,000 in economic benefit across the state.
To put these findings into real world context, the report features the impacts on lives and communities of three recent OHCS projects: The Aurora Building in Eugene, Ridgeview Commons in Prineville, and The St. Francis (pictured above) in Portland.
Now in color! Download Report (1.2 MB .pdf, April 2005)
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| For More Information |
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Lisa Joyce
503.986.0951
E-Mail
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| Trouble with the download? |
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