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 have purchased $387 million 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 $2.5 billion in financing for these loans.
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 nearly $1 billion in retail mortgages they have provided.
Investing in Industry
Industries in and around Minneapolis, as well as in Owatonna, Wilmar and more, have received nearly $900 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 $505 million in agricultural loans, with farmers in Hutchinson, Fergus Falls, Wilmar and more obtaining the financing they need to start and expand their operations in the state.