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Economic Development Through Public / Private Partnerships

Economic Development Through Public / Private Partnerships Retaining and Recruiting Qualified Employees.

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Economic Development Through Public / Private Partnerships

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  1. Economic Development Through Public / Private Partnerships Retaining and Recruiting Qualified Employees

  2. The Employer Assisted Housing Program partners Employers with government grant sources to assist employers retain and recruit employees. With a small contribution through an employer housing benefit program, employees may qualify for several available grants to purchase a home in Nassau or Suffolk Counties. The program is administered through LIHP and requires a minimum of administration and paperwork for the employer. Grants are provided through: Federal “HOME” Funds through Nassau & Suffolk Counties New York State Affordable Housing Corporation (AHC) Grant through New York State Homes and Community Renewal $25,000,000 “HELP” Allocation through the Long Island Majority Senate Delegation

  3. Goals of a successful program • Retain qualified employees • Recruit new employees • Improve employee moral • Improve corporate image

  4. Benefits to the Company • Retain competitive edge • Reduce employee turnover • Save on hiring costs • Save on training costs • Increase loyalty • Improve employee morale • Increase worker performance • “Great Place to Work” Company branding

  5. Long Island Housing Partnership’s EAH Program • Over $9 million awarded in grants • Over $1.5 million in employer matching grants • Over $100 million in home mortgages generated • Over 300 employees participated • Over 130 employers enrolled • Companies with 3 to 22,600 employees • Small private entrepreneurs • Large Multinationals • Unions and Not-For-Profits • Universities

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