FOR IMMEDIATE RELEASE
Thursday, September 22, 2022
Media Contact: Penny Martin
Ohio Housing Finance Agency Releases Economic Impact Report
More than 27,000 Jobs are Created or Sustained by Agency Investments
COLUMBUS, OH - Today, the Ohio Housing Finance Agency (OHFA) released its Economic Impact Report, which shows the Agency's programs and operations create or sustain 27,128 jobs annually, and generate $432.2 million in annual tax revenue. For nearly 40 years, OHFA has served as the state's affordable housing leader, ensuring that Ohioans with low and moderate incomes have access to safe, quality, and affordable housing.
"The work we're doing here at OHFA to create safe, affordable housing improves the health, education, and economic outcomes for Ohio families," said Shawn Smith, Executive Director of the Ohio Housing Finance Agency. "It also is an economic driver, supporting nearly 7,000 construction jobs, more than 4,800 health care and social assistance jobs and more than 3,000 jobs in the finance and insurance sector."
The report also shows that OHFA generates $4.5 billion in output for the state every year, which means for every dollar of input OHFA programs create $1.69 in economic activity. The Agency's housing programs and operations also result in $60.7 million in local tax revenue and $74.9 million in tax revenue for the State of Ohio.
For the economic analysis of OHFA's operations and programs, the Office of Research and Analytics gathered up to five years of data on inputs and Agency employment. The economic analysis was conducted using IMPLAN® economic impact software.
The complete Economic Impact Report can be found on the OHFA Website.
The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit www.ohiohome.org for more information.