Building America CDE Celebrates the Culinary Academy of Las Vegas’ Ribbon Cutting

Representatives from HIT subsidiary, Building America CDE, were on hand to wish congratulations to the Culinary Academy of Las Vegas (CALV) on the ribbon cutting for the substantial rehabilitation and expansion of its workforce training center.

Hospitality is the lifeblood of Las Vegas, and CALV is helping build the workforce that keeps the city’s world-class hospitality and entertainment industry thriving. As Dr. Bobbi Damrow, CEO of CALV, shared: “We are not only building a pipeline of highly skilled hospitality professionals for the entertainment capital of the world — we are intentionally creating access, support, and opportunity for people.”

Building America CDE, was proud to provide $10 million in New Markets Tax Credit (NMTC) allocation to support this transformative project. The expansion will double CALV’s workforce training capacity from 2,000 to 4,000 students annually and prepare students for hospitality careers that offer competitive wages, strong benefits, and pathways for advancement, strengthening both workers and the Las Vegas economy.

About Building America: Building America CDE, Inc. was established as a subsidiary of the AFL-CIO Housing Investment Trust (HIT) in 2010. The U.S. Treasury Department’s CDFI Fund certified Building America as a Community Development Entity, making it eligible to offer federal New Markets Tax Credits to investors. Building America has been awarded $280 million of these tax credits since 2011. More information is available on Building America’s website, www.buildingamericacde.com.

About the HIT:  The HIT is a fixed-income, investment-grade mutual fund with $7.4 billion in net assets. For 40 years, the HIT has been a leader in putting union and public pension capital to work to produce competitive returns and achieve mission-related collateral objectives. Investors should consider HIT’s investment objectives, risks, and expenses carefully before investing. Investors may view the HIT’s current prospectus, which contains more complete information, on its website at www.aflcio-hit.com and may obtain a copy by calling HIT Investor Relations at 202-331-8055. Investors should read the current prospectus carefully before investing.

Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and HIT Subsidiary Building America CDE, Inc. project data. The data is current as of March 31, 2026. Economic impact data is in 2025 dollars and all other figures are nominal.