Economic impact of the Ohio housing trust fund : full report

"Authorship: This report was written by Dr. Bryan Grady, Research Analyst"--Page 2.; "Created: 3/3/2017 ..."--Document properties screen.This report uses input-output analysis to generate overall economic impact of the Trust Fund. Overall, Trust Fund projects generate $589 million in economic activity per year, or $11.56 for every dollar spent by the state. About a third of this money -- $3.86 for every Trust Fund dollar spent -- provides income for working people and employers across the state. Overall, 4,358 jobs (full-time equivalent) are created or supported annually because of projects receiving Trust Fund awards, or 855 jobs for every $10 million in annual grants from the Trust Fund. Notably, Trust Fund dollars are often matched by federal or private resources that support state investments. For every dollar in Trust Fund spending, $4.65 is drawn from other sources, such as Low Income Housing Credits, federal HOME Investment Partnership Program dollars, local government agencies and private financing. In particular, construction ($8.07 per Trust Fund dollar) and rehabilitation ($6.11 per Trust Fund dollar) attract exceptionally high levels of financial support. This makes the Trust Fund a particularly effective use of state dollars. In short, not only do Trust Fund programs help tens of thousands of Ohioans find housing stability every year, but they also attract large amounts of outside dollars and produce dramatic positive effects on the state's economy