The NeighborWorks Collaborative of Ohio has released Economic Impact of the NeighborWorks Collaborative of Ohio, a report to present the economic and community impact of the Collaborative’s outputs from 2014 to 2018. The NeighborWorks Collaborative of Ohio is a statewide, non-profit organization focused on creating sustainable and affordable housing opportunities for Ohioans. This report was conducted by the Greater Ohio Policy Center (GOPC) to calculate the impact generated by ten NeighborWorks organizations in Ohio.
To derive the economic impact for each organization, GOPC utilized IMPLAN, an economic modeling system composed of software and data, which allowed GOPC to estimate the economic impacts that are likely to occur in a local economy in response to spending generated through each NeighborWorks affiliate’s activities. In some cases, GOPC looked at induced spending as a result of affiliate activities.
The ten NeighborWorks affiliates operating in the state have a significant impact on Ohio’s economy through their construction, renovation, and homeownership-related programs. Over the course of five years, NeighborWorks affiliates collectively generated:
$665 million in economic output
$67.6 million in local, state, and federal taxes
4,514 jobs created or sustained (contributed to an average of 902 jobs annually)
$443 million in first mortgages to new homeowners
Each affiliate creates paths to homeownership and offers supportive services for economically-insecure residents within their service footprints. To complement the economic impact report, GOPC has also produced 1-page case studies that highlight the human impact of the NeighborWorks affiliates, showcasing real stories from the families and individuals who have benefited from NWO services.
Through NeighborWorks of Ohio’s member organizations, over 150,000 individuals and families have benefitted from programs and services in the last 10 years, resulting in stronger communities, thriving local economies and a substantial positive impact on the state economy. Read the report here. To learn more about the NeighborWorks Collaborative of Ohio, visit https://neighborworksohio.org/