Investing in Affordable Housing
With investments in the Minnesota Housing Finance Agency, among other entities committed to helping house low to middle-income Minnesotans, life insurers are contributing to strong, diverse cities, towns and neighborhoods. In all, they currently have $252 million invested in bonds that boost affordable housing.
Investing in Apartment/Multifamily
With investments in mortgages for apartment/multifamily units in Minneapolis, Rochester, St. Cloud and more, life insurers are helping families throughout the state call Minnesota “home.” In all, life insurers have provided $3.2 billion in financing for these loans in recent years.
Investing in Office Space
Life insurers help keep Minnesota a hub for business and commercial activity by providing $1.5 billion in mortgage loans for office space in Minneapolis-St. Paul, Duluth, Rochester and more.
Investing in Retail
A quarter of the jobs in the state are supported by the retail industry, says the National Retail Federation. Life insurers play a role in this story. They help keep people working and businesses thriving as a result of more than $1 billion in retail mortgages they have provided.
Investing in Industry
Industries in and around Minneapolis-St. Paul, as well as in Owatonna, Wilmar and more, have received $756 million in financing from life insurers for mortgages. This helps make the state a manufacturing powerhouse in the upper Midwest.
Investing in Agriculture
Life insurers have issued $554 million in agricultural loans, with farmers in Albert Lea, East Grand Forks, Fergus Falls and more obtaining the financing they need to start and expand their operations in the state.