Economic Stimulus Created by Florida Housing’s Programs

The most recent information available showing Florida Housing’s economic impact to the state is for program activity in 2020. Florida Housing leveraged funding sources totaling $1.9 billion to generate $7.71 billion in economic activity linked to the construction or rehabilitation of affordable housing units. Florida State University’s Center for Economic Forecasting and Analysis1 estimated the total 2020 economic impact of Florida Housing’s programs and internal operations to be:

• $7.71 billion in economic output; • $3.02 billion in income; • $4.61 billion in value added; and • 55,719 full- and part-time jobs created.

In addition, researchers at Florida State University analyzed the average ongoing economic impact created each year for the first 15 years of the rental properties funded based on the projected operations of the rental properties. The average economic impact over this period of operations is projected to be:

• $823 million in economic output annually (equal to $12.34 billion over 15 years); • $664 million in personal income annually (equal to $9.96 billion over 15 years); and • 4,487 full- and part-time jobs created.

1 https://cefa.fsu.edu/ https://www.floridahousing.org/press/publications#EconomicBenefitofFHFCPrograms https://www.floridahousing.org/press/publications#EconomicBenefitofFHFCPrograms

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