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.
- $120 billion in stocks and bonds that help finance business development and create new jobs
- $24 billion in real estate, loans and other investments
- $8 billion in mortgage loans on farms, residential, and commercial property
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, for the Great Lakes Water Authority, for the Lansing Board of Water & Light, and more.
Investing in Education
Life insurers have invested more than $1.5 billion in bonds for education in Michigan, including $255 million in bonds from the Detroit public schools. Life insurers also have invested more than $65 million in schools and school districts in Livonia, Dexter, L’Anse Creuse, East China and Caledonia. 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 Apartment/ Multifamily
The industry has dedicated $1.5 billion to mortgage loans for apartments and multi-family homes, helping more individuals and families call Michigan home.
Investing in Industry
By providing industrial mortgages totaling nearly $1.8 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 $363 million in affordable housing through the state’s Housing Development Authority.
Investing in Agriculture
Life insurers have invested $367 million in agricultural loans in Michigan. From beans to blueberries, corn to cattle, these mortgage loans provide farmers the financing they need to obtain and upgrade their farms and produce more than 300 commodities.