Economic Impact of the Housing Tax Credit Program

The Economic Impact of the Housing Tax Credit Program in Ohio: Income, Jobs and Taxes Generated

The National Association of Home Builders (NAHB) was commissioned to estimate the short and long-term direct, indirect, induced, and total economic effects of the Housing Tax Credit Program in terms of employment, tax revenue, and the value added to Ohio's state and local economy. In particular, OHFA asked NAHB to estimate the impacts of 4,608 units of new construction and rehabilitation of existing structures that were cost certified in 2011 and 2012. The NAHB model captures the effect of the construction activity itself and the ripple impact that occurs when income earned from construction activity is spent and recycled in the state.