A big part of the working capital that helps Michigan open its doors to families, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $152 billion in Michigan’s economy with agricultural loans, education bonds, apartment/multifamily mortgages and more. We are here to strengthen communities and families across the state.
Investing in Infrastructure
Life insurers have provided nearly $700 million in financing for
infrastructure improvements in Michigan. This includes bond
purchases from the Wayne County Airport Authority, the Great
Lakes Water Authority, the Lansing Board of Water & Light, and
more.
Investing in Education
Life insurers have invested more than $2 billion in bonds for education
in Michigan, including $216 million in bonds from the Detroit public
schools. Life insurers also have invested $63 million in schools and
community colleges in Livonia, Dexter, L’Anse Creuse, East China and
Lansing. 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 Apartments/ Multifamily
The industry has dedicated $1.9 billion to mortgage loans for
apartment buildings and multifamily homes, helping more individuals
and families call Michigan “home.”
Investing in Industry
By providing industrial mortgages totaling nearly $1.9 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 $290 million in affordable housing through
the state’s Housing Development Authority.
Investing in Agriculture
Life insurers have invested $381 million in agricultural loans in
Michigan. From beans to blueberries, corn to cattle, these mortgage
loans provide farmers with the financing they need to obtain and
upgrade their farms and produce more than 300 commodities.