0001387131-19-005364.txt : 20190726 0001387131-19-005364.hdr.sgml : 20190726 20190726121738 ACCESSION NUMBER: 0001387131-19-005364 CONFORMED SUBMISSION TYPE: 40-24B2 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20190726 DATE AS OF CHANGE: 20190726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AFL CIO HOUSING INVESTMENT TRUST CENTRAL INDEX KEY: 0000225030 IRS NUMBER: 526220193 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-24B2 SEC ACT: 1940 Act SEC FILE NUMBER: 811-03493 FILM NUMBER: 19976933 BUSINESS ADDRESS: STREET 1: 2401 PENNSYLVANIA AVENUE, NW STREET 2: SUITE 200 CITY: WASHINGTON STATE: DC ZIP: 20037 BUSINESS PHONE: 2023318055 MAIL ADDRESS: STREET 1: 2401 PENNSYLVANIA AVENUE, NW STREET 2: SUITE 200 CITY: WASHINGTON STATE: DC ZIP: 20037 40-24B2 1 ahit-4024b2_072419.htm FILING OF SALES LITERATURE
 
 
 
 
 
 
       
  Midwest @ Work  
       
  •   The MidWest@Work Investment Strategy was implemented to spur economic development in the industrial Midwest.  
       
  •   The strategy’s footprint covers the states that border the Great Lakes, from Upstate New York to Minnesota. Nine cities/metropolitan areas – Buffalo, Cleveland, Columbus, Detroit, Minneapolis, Milwaukee, Pittsburgh, Saint Paul, and St. Louis – are the focus of investment.  
       
  •   By 2023, the goal is to have provided over $1 billion for the initiative. Ninety projects with total development investment of some $2 billion are anticipated.  
       
  Effects of Continued Disinvestment  
       
  •   The industrial Midwest has suffered population decline, loss of union jobs, particularly in manufacturing, and most notably an increase in poverty.  
       
  •   There is a strong correlation between the loss of manufacturing jobs and the rise in poverty levels.  
       
  •   From 1970 to 2009, the number of manufacturing jobs in the region fell by nearly 50% and the population fell by 40%, leaving many communities with weak economies, in stark contrast to their vibrancy when manufacturing employment was at its peak.  
       
  Working to Reverse the Cycle  
       
  •   There are signs of economic recovery in the region.  
       
  •   The number of manufacturing jobs was at an all-time low in 2009 but has begun to increase in recent years, and other middle class jobs and population are beginning to grow.  
       
  •   A commitment to provide access to affordable workforce housing, reduce the number of vacant homes, and invest in economic development will help turn the industrial Midwest around.  
       
  The estimated economic and fiscal impacts of these projects across the Midwest are significant:  
     
     
       
       
 

* Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and subsidiary Building America project data. The data is current as of June 30, 2019. Economic impact data is in 2018 dollars and all other figures are nominal.

 
     
     
 
 

 

 

 

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