Residential construction in Wisconsin generates income and jobs for state residents, as well as substantial revenue for state and local governments.
The 2018 Wisconsin Housing Impact Study conducted by the National Association of Home Builders (NAHB) estimates a one-year economic impact of $289.8 million in income for Wisconsin residents for every 1,000 single-family homes built in the state. It also estimates $56.3 million in taxes and other revenue for state and local governments, as well as 4,451 additional jobs within the first year.
Meanwhile, Wisconsin Assembly Bill 770 enacted this past April, aims to increase the supply of affordable housing in Wisconsin, and that is important to the economic vitality of our community. For instance, the bill provides financial incentives for municipalities to provide higher density workforce housing.
According to the Dane County Housing Initiative, “there are thousands of other Dane County residents who can’t find housing including senior citizens on fixed incomes; school teachers, entry-level professionals, maintenance and service sector employees; families with children and single parent families; and those with disabilities, who face daily hardships that are difficult for many of us to imagine.”
The Fitchburg Star reported that “with Dane County’s expected growth over the next 12 years … Fitchburg will need about 117 owner-occupied homes per year until then.”