Introduction
Every year, we work alongside local families as they achieve homeownership and repair their homes. We work to build stronger communities through our work in creating decent and affordable housing opportunities. This work drives important social and economic outcomes, as stable housing has a tremendous impact on family and community health, improved education outcomes for children, and increased financial stability and opportunity.
In addition to these benefits, building and repairing homes also stimulates other sectors of the economy – driving additional spending and creating local jobs. In 2019, our investments in construction and housing repairs had a ripple effect in the local economy and generated important economic activity.
This report will share more about this ripple effect and our contributions to the local economy – which is just one of several important outcomes impacted by our work.
Quantifying the ripple effect of our investments
We’re proud of the homes we’ve built alongside homeowners and the lives we’ve helped to change, but we know that our impact in the community goes beyond the construction of homes. We purchase goods and services from other businesses, create local jobs, and generate demand in the broader economy.
To quantify the ripple effect of our investments in the local economy, we performed this economic impact analysis. The analysis estimates how much our initial investment is multiplied as the dollars circulate through the economy.
How did we do this work?
To calculate these results, Habitat for Humanity extracted employment and expenditure data from our most recent financial documents. The data were aggregated into three categories identified by IMPLAN’s professional economists to represent the primary economic activities of Habitat affiliates in the local economy.
- New construction
- Rehabilitation and renovation
- Office and Habitat ReStore operations
This information was then input into IMPLAN, an economic modeling software, assigned to the industries listed below, and aligned to our local service area to estimate the economic impact of our spending within the local economy. Results were reported in 2020 dollars.
- New construction - IMPLAN Industry 57
- Rehabilitation and renovation - IMPLAN Industry 61
- Office and Habitat ReStore operations - IMPLAN Industry 495
The economic effects of our investments are just one facet of the full extent of our impact in the community, but they help describe some of the value we bring to the economy. These results demonstrate how support for Greater Matthews Habitat reaches more than just our homeowners, benefiting the community as a whole.