It’s no secret a healthy housing industry can serve as a true catalyst for job growth. The numbers speak for themselves. Research from the National Association of Home Builders (NAHB) shows the broad impact of new construction.

On average, building 1,000 single-family homes generates:
            • 2,970 full-time jobs
            • $162 million in wages
            • $118 million in business income
            • $111 million in taxes and revenue

Similarly, statistics reported from NAHB show that the construction of 1,000 rental apartments, including units developed under the Low Income Housing Tax Credit, generates 1,130 jobs while $100 million in remodeling expenditures creates 890 jobs.

Housing provides the necessary momentum behind an economic recovery because home building and the associated businesses employ such a wide range of workers. They include framers, electricians, HVAC, plumbers and carpenters.

From there you can look at the wide ripple effect and how jobs are spread across other sectors of the economy, including manufacturing, retail, wholesale and business services. To put this in perspective when you look at our local economy – in its prime 1 out of every 5 jobs was tied to the construction industry.

Even as homeownership remains a cherished American dream, the industry still faces persistent challenges. This includes access to affordable building lots, access to builder loans, rising material costs, labor shortages and regulatory and policy impediments. All of these drive up the cost of construction, which affects the affordability of housing and keeps prospective buyers from entering the market.

This is where the Home Builders Association comes in to play. The Wilmington–Cape Fear Home Builders Association (WCFHBA) is the largest trade association in eastern North Carolina and serves as the voice of the building and development industries.

We strive to advance professionalism and promote community involvement, and we are recognized as a positive influential force for responsible growth by protecting property rights and the privilege of homeownership. We work strategically with many different partners in the community – advancing our mission and always putting our members’ needs first. We do this through the direct interaction with our elected officials and community leaders.

The economic return or the ROI of a healthy housing industry equates to homeownership for millions of Americans. This helps to foster a strong sense of community as well as provide the necessary investment for our schools, parks, roads and infrastructure by broadening the overall tax base.

Want a vibrant city? Housing serves as a vital component of that equation by building for special sub-markets such as the elderly, singles, larger families and higher density multifamily. It also provides the necessary ingredients to revitalize an area through infill practices, which in return can reinvigorate a city block or an entire neighborhood.

And housing is often followed by new commercial businesses –- the corner store or boutique shop, the local grocer, the bank and the many services that provide the jobs and amenities that help attract more residents and more businesses.

Cameron Moore is executive officer of the Wilmington-Cape Fear Home Builders Association.