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A new study by the National Association of Home Builders says the home building industry in Wisconsin more than pays for itself, providing new income and jobs for state residents along with added revenue for state and local governments.
According to the study, every 1,000 single-family homes built this year in Wisconsin will generate a cumulative $209.5 million in revenue, compared to $195.6 million in added costs over the next 15 years. By the end of the first year, the study found, the housing industry’s economic impact more than offsets costs, resulting in a fiscal surplus sufficient to pay off all debt and pay for additional government services.
Collectively, new single-family housing produces a net income to state and local governments of $7.4 million in the first year, and of $475,000 each year after, the study said.
Elliot Eisenberg, senior economist for the national group, will present his findings to a joint session of the Senate and Assembly housing committees from 11 a.m. to noon Thursday in room 412 East of the State Capitol. The Wisconsin Builders Association, made up of 25 local groups, includes more than 7,000 members.
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