Welcome from the President
For decades, the Home Builders Association of Greater New Orleans (HBAGNO) has been a pillar of the local residential construction and remodeling industry. With nearly 1,000 member firms, HBAGNO’s reach extends throughout Southeast Louisiana and the Gulf South. Our members create thousands of jobs, contribute millions of dollars to local economies and turn dreams into reality by building beautiful homes at all price points — entry-level to luxury. For many of us, our homes are where our fondest memories are made; however, I’d like to share with you a few facts related to the housing industry, which will underscore how critically-important housing construction is to the U.S. economy.
Historical analysis by the National Association of Home Builders of the broad impact of new home construction shows that for every 1,000 average, single-family homes built:
• 2,970 full-time jobs are created
• $162 million is paid in labor/wages
• 188 million of business income is generated
• $111 million in taxes/revenues are remitted to state, local, federal governments
Moreover, the construction of 1,000 rental apartments, including units developed under the Low-Income Housing Tax Credit (LIHTC), generates 1,130 jobs, while $100 million in remodeling/renovation expenditures creates 890 jobs.
Clearly, a healthy housing economy is key to the overall state of the U.S. economy, as well as state and local economic prosperity. Additionally, home ownership has been one of the most effective steps on the ladder into middle-class America and as a wealth-creation vehicle. We thank you for supporting our HBAGNO companies and vendors. Not only do they build beautiful homes with amazing home materials and products, but their efforts also lead to the formation of good-paying local jobs and stable communities. Never hesitate to call on the HBAGNO for all things related to “home.”
Michael Kraft, Kraft & Company
2019 President, Home Builders Association of Greater New Orleans