Job Creation

Building America’s goal is to create jobs that provide family-supporting wages with pension and healthcare benefits for residents of the local community in which it invests. This includes creating union construction jobs on every project finance. Our approach to local construction hiring is to get involved early in the process, working with the local building trades unions, local government agencies, and the contractor before the construction contract is finalized. To ensure long-term local hiring goals are met, Building America selects projects where the developer will meet our workforce requirements, in addition to state or local workforce requirements that may provide further opportunities for low-income residents. As a condition of our financing, we require the contractor to execute an agreement to provide family-supporting jobs to workers in the project’s local jurisdiction. This ensures that the local contractor is committed to providing competitive pricing and family-supporting wages while meeting the local hiring goals for the project. These job creation initiatives are tailored to each community and the participants in the development.

225 Centre Street, Boston, MA: This project created an estimated 300 union construction jobs during construction and will create 20 permanent jobs upon completion. Building America and the project sponsor worked with the contractor, the local building trades, and government officials to set specific local, minority, and female hiring goals: 50% of the workforce was Boston residents; 40% were minority workers; and 10% were women. The developer was also required to use best efforts to contract with MBEs and WBEs to provide construction goods and services.

Paseo Verde, Philadelphia, PA: This project has a goal of retaining 39 local permanent jobs and creating approximately 42 new ones. The project generated approximately 307 union construction jobs at prevailing wages. In accordance with the city’s Affordable Housing Development Program, the project sponsors committed to provide meaningful representation for M/W/DSBEs, socially and economically disadvantaged business enterprises, and Philadelphia residents in all phases of the project’s design and construction. The development team committed to a goal of 25% MBEs, 8% WBEs, and 2% DSBEs.

St. Peter's University’s Student and Community Resource Center, Jersey City, NJ: This project provided over 300 full-time union construction jobs and will provide 80 permanent jobs. In addition, Building America’s involvement was central to the expansion of the training and job certification services that the college will provide to community residents. The developer agreed, in partnership with the AFL-CIO, to develop pre-apprenticeship programs; journeyman construction certificate and licensing programs; local OSHA safety certificate programs; and other specialized programs tailored to specific local trade unions. The university will offer classroom space for small business development and mentoring programs.