A big part of the working capital that helps Michigan open its doors, invest in new projects, and grow its workforce comes from long-term investments by life insurers. Our companies have invested $158 billion in Michigan’s economy with agricultural loans, education bonds, apartment/multifamily mortgages and more. We are here to strengthen businesses and communities across the state.
Investing in Infrastructure
Life insurers have provided more than $230 million in financing for infrastructure improvements in Michigan. This includes bond purchases from the Wayne County Airport Authority, for waste water treatment in Pontiac, for Grand River floodwalls and embankments, and more.
Investing in Education
Life insurers have invested nearly $1.5 billion in bonds for education in Michigan, including nearly $280 million in bonds from the Detroit City School District. Life insurers also invested $34 in school districts in Utica, Marshall, Holland, and more. These bonds build safer school buildings, keep up with and enhance technology for students and staff, and ensure Michigan students have the tools they need to learn at their best.
Investing in Apartment/ Multifamily
The industry has dedicated $1.5 billion to mortgage loans for apartments and multi-family homes, helping more individuals and families call Michigan home.
Investing in Industry
By providing industrial mortgages totaling $1.3 billion in Detroit, Grand Rapids, Lansing and more, life insurers have helped keep Michigan a world leader in industrial production.
Investing in Affordable Housing
Life insurers have invested $210 million in affordable housing through the state’s Housing Development Authority.
Investing in Agriculture
Life insurers have invested nearly $400 million in agricultural loans in Michigan. From beans to blueberries, corn to cattle, these mortgage loans provide farmers the financing they need to obtain and upgrade their farms and produce more than 300 commodities.