MORENYC- the Metropolitan Organization for the Real Expansion of New York City - works to expand the population and built environment of New York City in order to create jobs, lower housing costs and save the environment by encouraging more people to live in an urban environment of lower per capita energy use.
Details how $260 million in state spending over seven year on affordable housing leveraged $2.54 billion in additional federal spending and private capital. This included 18,490 affordable housing units each year, 31,800 jobs during construction and an additional 5,650 permanent jobs to support resident spending and building maintenance
Reviews literature showing the jobs and revenue gains for local governments from investments in affordable housing, including helping local employers grow by attracting and retaining quality employees.
Study finds that for every dollar of AHP funding put into a particular development project, an additional $14.30 of private and public capital was invested. Every dollar of AHP funding created $24.60 of additional economic impact in a community in the form of increased or new income, spending on construction materials and durable goods, and expanded tax revenues. For every $1 million of AHP funding, 158 jobs are created. AHP-assisted housing has helped create approximately 46,000 jobs in its 20 years.