A big part of the working capital that helps Minnesota 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 about $144 billion in Minnesota’s economy with agricultural loans, retail mortgages, investments in industry and more. We are here to strengthen communities and families across the North Star State.
- $115 billion in stocks and bonds that help finance business development and create new jobs
- $21 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 currently have $217 million
invested in bonds that boost affordable housing.
Investing in Apartments/ Multifamily
With investments in mortgages for apartments/multifamily units in
Minneapolis-St. Paul, Rochester, St. Cloud and more, life insurers are
helping families throughout the state call Minnesota “home.” In all, life
insurers have provided $3.3 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 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
because of more than $900 million 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 $1 billion 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 $544 million in agricultural loans, with
farmers in Albert Lea, Grand Forks, Fergus Falls and more obtaining
the financing they need to start and expand their operations in the
state.