"Housing America's Workforce Act', submitted legislation in 2007, outlined the benefits of Employer Assisted Housing. The excerpts below are taken from this legislation:
(8) Under employer-assisted housing (EAH) programs employers provide much needed housing assistance to their employees.
(9) EAH programs are innovative local solutions that have increased affordable housing opportunities for thousands of working families across America while benefiting the economy.
(10) According to findings of the Rutgers University American Affordable Housing Institute, employer-assisted housing increases productivity by reducing commuting time as well as saves money on recruitment and retention.
(11) The future growth of EAH programs will remain dependent upon increasing individual employer knowledge and implementation of these programs.
(12) EAH programs will not solve the Nation's housing problems but such programs do seek to address the challenge from a new perspective and allow the private sector to play a direct role in promoting housing affordability. Additionally, EAH programs can help to promote redevelopment and reinvestment in distressed communities.
Fannie Mae, FHA, and Freddie Mac have long supported Employer Assisted Housing (EAH) plans as a firm foundation of support in promoting affordable housing, supporting employers’ efforts with employee retention and recruiting, as well as providing, neighborhood stabilization and revitalization. Employer Assisted Housing plans have successfully assisted communities with economic development and growth by attracting businesses to targeted areas. In addition, Employer Assisted Housing Benefits support employees in the dream of homeownership.
According to the 2002 National Housing Survey, Americans rated homeownership as the best investment they could make far ahead of 401Ks, retirement accounts, and stocks. Employer Assisted Housing Benefits are a viable solution to stabilize and revitalize Indiana communities. EAH benefit programs are designed to target the needs of employers, employees and communities. The needs of Indiana residents, employers and the community have shifted in recent times. This shift, brought about by a declining housing market and a faltering economy, has altered the EAH target market. Additionally, a stronger emphasis on homebuyer education is needed.
As stated in the August 2007 Department of Treasury Insights publication, there is no standard template for EAH Programs. It is up to each individual employer on how they choose or design their Employer Assisted Housing plan to offer their employees.
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General Information Involving Relocation and housing benefits
Since the beginning of the Industrial era, employers have frequently been involved in the provision of housing for their workers. Motivation for employer relocation and housing benefits (EAH) ranged from practical necessity to philanthropy. In the United States, there have been historical examples where worker housing was the provision of dormitories for mill workers, the creation of new industrial towns. Although the popularity of employer housing faded through the 20th Century, economic and labor market developments over the past few decades have led to its re-emergence as an economic development tool.
The following links represent a diverse assortment of publications and directives about employer assisted housing and employer benefits.
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