A big part of the working capital that helps Minnesota open its doors, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $141 billion in Minnesota’s economy with agricultural loans, retail mortgages, investments in industry and more. We are here to strengthen businesses and communities across the North Star State.
- $144 billion in stocks and bonds that help finance business development and create new jobs
- $18 billion in real estate, loans and other investments
- $8 billion in mortgage loans on farms, residential, and commercial property
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.