Socially Responsible Investing

• Socially Beneficial Impact
• Partnerships
• Community Investment Initiatives
  • New York City Community Investment Initiative
  • Chicago Community Investment Plan
  • Gulf Coast Revitalization Program
    • Program Elements
    • Video

The Gulf Coast Revitalization Program features several distinct investment components that address area residents’ needs for housing, healthcare, and good jobs. These components are being carried out through the AFL-CIO Investment Program, which includes the AFL-CIO Housing Investment Trust (HIT), AFL-CIO Building Investment Trust (BIT) and AFL-CIO Investment Trust Corporation (ITC). The total impact of these investments on the local economy is expected to be $1 billion.

• Affordable Housing: The HIT plans to invest $250 million in direct financing for the production or rehabilitation of housing over a seven-year period. This significant financial investment will seek to build or renovate 5,000 to 10,000 housing units in New Orleans and other Gulf Coast communities, and is expected to leverage an additional $150 million from other public and private sources. Special emphasis will be given to workforce and special needs housing.
• Health Care and Hospital Facilities: In conjunction with other partners, the HIT plans to invest $100 million in health care facilities and hospital construction. These investments will help reduce the significant shortage of health care facilities in the region.
• Homeownership: To expand homeownership opportunities for working families throughout the region, the HIT plans to make available up to $250 million in home mortgages for union members and public employees. This program will include informational workshops with counseling and tools for homeowners who are facing foreclosure or who need to refinance their homes. In addition, the HIT is working with local community development corporations to develop innovative homeownership programs for low-income families such as limited equity co-ops and the Section 8 program.
• Economic Development: The BIT has targeted $100 million in equity investments for commercial real estate development and revitalization to create jobs and boost local economies.
• Factory-built Housing: The ITC is spearheading an effort to establish two unionized plants in or near New Orleans to manufacture factory-built housing. These facilities will help fill the region’s critical shortage of high-quality, affordable homes while also providing good jobs, training and other workforce development services for local residents.
• Workforce Training: The HIT will work closely with the Building and Construction Trades Department, AFL-CIO, and local building and construction trades councils in the Gulf region to help implement a union- and employer-sponsored Workforce Development Project for area residents. The program is designed to help build the skilled workforce necessary to meet the demand for labor generated by Gulf Coast reconstruction projects through expansion of training and employment opportunities in the construction industry.
• Jackson, Mississippi: HIT staff is seeking to finance developments that will create or rehabilitate housing affordable to the low- and moderate-income residents of Jackson, Mississippi. The HIT is working with city officials, labor organizations, Fannie Mae and other local groups, such as Jackson State University, faith-based organizations, civic organizations, foundations and the business community to create new rental housing that is affordable to working families. In addition, the HIT is exploring relationships with community development corporations and local service providers for special needs housing that may be produced under this initiative. Jackson Mayor Frank Melton has asserted his support of labor's role in the reconstruction of affordable housing, as well as in the establishment of apprenticeship programs to provide training and jobs to young people living within the communities in need.