Metropolitan Builders Association: Single new family home construction is one of Wisconsinís largest employers
For further information, please contact:
J. Scott Mathie, MBA Vice President of Government Affairs
WAUKESHA, WI (October 1, 2010) Ė In a presentation hosted by the Metropolitan Builders Association (MBA), Elliot F. Eisenberg, Ph.D., Senior Economist for the National Association of Home Builders (NAHB), told an audience of local business leaders interested in the economics of housing and its impact on the state's municipal budgets yesterday that new single family residential construction is one of Wisconsin's largest employers. †
"Those of us who work in the Wisconsin home building industry know how vital new home building is to our state's economy," said Rick Hodges, MBA Executive Director who invited Eisenberg from the NAHB headquarters in Washington, DC to present his Wisconsin home building research findings. †
"The majority of Wisconsin residents are aware of the positive, short term economic impact that new home building generates in the form of job creation, material purchases, local fees and taxes, but not everyone realizes the long term economic impact that new home building creates and sustains." †
According to Eisenberg new home building doesn't only employ people during the home design (architects), build (construction crews) and system installation (heating) phases, but it also creates ongoing business expansion and employment opportunities for years afterwards due to community growth. In addition, new home construction typically brings in more tax base compared to existing housing. †
"The ripple effect extends much farther than most of us realize," said Hodges. †
"For every dollar spent in the residential construction phase, 65 cents is spent in the local economy which is why new home building is imperative to a healthy Wisconsin economy and why new home building has led the country's economy to recovery during past recessions.
Ultimately, we need to change the perception that new home building only benefits those in the new home building industry and look at the beneficial, big picture economic implications.Ē †
For more information about the MBA, visit MBAonline.org or The Metropolitan Builders Associationís Facebook page http://www.facebook.com/pages/Metropolitan-Builders-Association/116244565876.
ABOUT THE METROPOLITAN BUILDERS ASSOCIATION (MBA)
The Metropolitan Builders Association, located in Waukesha, WI, is a not-for-profit trade association that represents over 1,200 companies involved in the construction, development, and remodeling of single and multifamily housing and light commercial property in Waukesha, Washington, Ozaukee, Jefferson, and Milwaukee counties. Collectively, its members employ tens of thousands of workers in the Milwaukee area and conduct millions of dollars of business each year.