The Utah Housing Corporation plays an important role in enhancing the general economy of the state of Utah. Financing affordable housing not only helps needy families who need a place to live, but it also contributes directly to the economic health of local communities and the overall economic vitality of the state.

Economic benefits associated with affordable housing are often overlooked.  However, there is a strong link between the two. UHC’s various programs create jobs that bring increased income and wages to local communities. These housing programs raise demand for construction supplies and materials that generate tax revenues for state and local governments. 

The economic benefits from UHC’s programs are very effective economic development tools that help neighborhoods expand. Communities are able to grow as an additional supply of affordable housing is added. The increased housing supply increases the tax base with additional property, sales, and income taxes. To date, the cumulative tax benefit from UHC programs to the state and its communities is $298.5 million with a fiscal impact of $44.3 million in property taxes each year.

UHC’s programs also promote commerce by producing affordable housing for Utah’s growing workforce. Affordable housing is a major issue for expanding businesses that need a ready supply of quality housing for their employees.  Available housing can be a key factor in retaining and attracting companies when making decisions about location. 

UHC makes these significant economic contributions without any cost to the state or taxpayers. The Corporation is totally self-sufficient.  It does not receive state or federal appropriations.