For Immediate Release
July 12, 2016
Contact: Jason Rae, 414.344.1733
Report reveals significant economic impact from
Wisconsin NeighborWorks® organizations
Organizations have more than $69 million in economic activity
Milwaukee, WI — Today, an economic impact study released by NeighborWorks® Alliance of Wisconsin finds seven organizations provided significant economic impact to the state totaling more than $69 million in 2014, the latest year for which figures were available.
“Communities throughout Wisconsin have experienced positive economic impact from the housing and community development activities provided by the NeighborWorks® Alliance of Wisconsin organizations. These effects stem from robust public and private partnerships developed by the agencies and are facilitated by technical and financial support from NeighborWorks® America,” says Noel Halvorsen, Chair of the NeighborWorks® Alliance of Wisconsin and Executive Director of NeighborWorks® Green Bay.
“In 2014, the impact of homeownership services resulted in sustaining 495 jobs, and is responsible for over $69.17 million in economic activity. These findings demonstrate how necessary NeighborWorks® organizations are in supporting homeownership and making it more of a reality. NWOs understand that the impact of homeownership is more than just turning a key in the door,” said Lizz Casey, deputy director of NeighborWorks® Blackhawk Region and Vice Chair of the Alliance.
This year’s report was conducted by New England Market Research and provides a breakdown of each organization’s primary services and their economic output from job generation (part-time and full-time, temporary and permanent, salary and fee-based) and the amount of tax revenue (federal, state and local) generated from the individual organization and the seven organizations total.
“With tens of millions in annual economic impact statewide, we’re also the sum of multiple regional efforts. Our Milwaukee-based organizations saw a boom in rehabilitated homes and new job development associated with that. In Green Bay, we’ve been able to keep household income and tax revenue in the area through foreclosure prevention activities. We’ve seen great success with members all over the state. Together, NeighborWorks® Alliance of Wisconsin members understand how to leverage scarce public and private resources to benefit our communities. We’re extremely proud of the impact we’ve had in strengthening communities in the state,” added Halvorsen.
Other major findings from this report include:
- Jobs are created and/or sustained. The boost from homeownership activities spreads throughout several industries. In 2014, there were nearly 500 jobs created and/or sustained for Wisconsin residents.
- Returns in the Wisconsin Economy. The stimulation of homeownership has great impact in investments being made back into the local economy. Facilitated by NeighborWorks® organizations (NWO). State tax revenue from the Alliance members is over $3 million dollars.
- Quality of life improves. Although harder to quantify, the job creation, and tax revenue benefits from the stability of homeownership activities and programming has a broad effect in other areas such as community development, public safety and small business support.
This report contains data derived from several sources outside of the NWOs themselves, including US Census Bureau Economic Censuses and Surveys, US Bureau of Labor Statistics Covered Employment and Wages (ES202) Program and others.
A full copy of the report can be found online at http://www.neighborworksalliancewi.org/economic-impact-study/.
About NeighborWorks® Alliance of Wisconsin
NeighborWorks® Alliance of Wisconsin is a network of six member organizations affiliated with NeighborWorks® America. These organizations provide a variety of services to individuals and families to create opportunities for people to live in affordable homes, improve their lives and strengthen their communities. Organizations include CommonBond Communities, Housing Resources, Inc., Impact Seven, Neighborhood Housing Services of Southwest Wisconsin, NeighborWorks® Blackhawk Region, and NeighborWorks® Green Bay.