State & Local Investments

Washington State Investment Board, "Economically targeted investments"

http://www.sib.wa.gov/financial/invrep_iw_eti.asp

In March 2003, the Washington State Investment Board adopted a new policy requiring annual reports of the pension funds in-state investments. In January 2004, the pension board reinforced this action by reaching a memorandum of understanding to coordinate efforts to promote in-state, high-tech business with the Washington Technology Center. According to their 2004 report, the pension fund currently invests $1.3 billion in in-state companies. Read more about Washington State Investment Board, "Economically targeted investments"...

Vermont Sustainable Jobs Fund

http://www.vsjf.org

The Vermont Sustainable Jobs Fund (VSJF) was created by the Vermont Legislature to identify and fund market driven solutions to pressing economic, social, and environmental issues. Since 1997, the VSJF has made grants of over $2.7 million to 150 recipients, helping to leverage $11.8 million, benefiting over 8,800 businesses, and creating at least 800 jobs during the implementation of those projects. Read more about Vermont Sustainable Jobs Fund...

ULLICO (Union Labor Life Insurance Co.)

http://www.ullico.com

One of the nation's leading union-friendly investors, the Union Labor Life Insurance Company (ULLICO), is working to support sustainable development through labor-based pension activism such as the “J for Jobs” program, a tax-exempt pension plan that invests in income-producing properties that are exclusively union built. Read more about ULLICO (Union Labor Life Insurance Co.)...

State of Wisconsin Investment Board, “Invest In Wisconsin”

http://www.swib.state.wi.us/InvestWisc.aspx

Between July 2003 and June 2004, this pension fund made a total of $684 million in new investments in its home state of Wisconsin. Overall, it is pension fund policy to maintain between $2.7 and $4.5 billion of pension funds invested within the state of Wisconsin. Read more about State of Wisconsin Investment Board, “Invest In Wisconsin”...

Retirement Systems of Alabama

http://www.rsa-al.gov/

This fund has long been considered among the more aggressive funds in using pension capital to finance state economic development. RSA is best known for financing the development of the Robert Trent Jones Golf trail, providing tourism jobs in state, as well as a good return for pensioners. Read more about Retirement Systems of Alabama...

Pacific Community Ventures

http://www.pacificcommunityventures.org

Pacific Community Ventures (PCV) is a community development venture capital firm whose largest investor is CalPERS, the state employee pension fund. CalPERS' investment has helped bring capital to low-income communities. For instance, PCV invested $400,000 in Niman Ranch, an Oakland-based natural meat product distributor that employs 110 workers in a low-income neighborhood, with wages averaging $14 an hour and annual sales in excess of $50 million. Read more about Pacific Community Ventures...

New York City Comptroller, "Economically targeted investments"

http://comptroller.nyc.gov/general-information/economically-targeted-investments…

In 2003, the New York City Comptroller's office made new economically targeted investments (ETI) or financial commitments of city worker pensions totaling $234.5 million and has increased its investments since that period. Since the ETI program began, close to $2 billion has been invested in New York City’s five boroughs. Read more about New York City Comptroller, "Economically targeted investments"...

Maryland Venture Fund

http://www.choosemaryland.org/aboutdbed/Pages/BusinessandEnterpriseDev.aspx

The Maryland Investment Financing Group invests in Maryland business through direct investments in seed companies (Challenge Fund), in somewhat more developed emerging technology companies (Enterprise Investment Fund), and through its participation in venture capital limited partnerships. Read more about Maryland Venture Fund...

CalPERS, "California Investments"

http://www.calpers.ca.gov/

As of Dec. 31, 2004, CalPERS, the state's leading employee retirement pension fund, had investments totaling $20.6 billion in in-state firms, an amount that is equivalent to 11.2% of total assets. Read more about CalPERS, "California Investments"...

BioAdvance

http://www.bioadvance.com

BioAdvance was established in 2002 with a grant of $33.8 million from tobacco settlement money to use as seed money to finance venture investments in the life sciences industry in southern Pennsylvania. As one of three funds statewide, it is part of a larger effort, which involved dedicating 19 percent or $2 billion worth of the state's tobacco settlement money to develop biotechnology and related industry. Read more about BioAdvance...

Bank of North Dakota

http://www.banknd.com

Currently the only state-owned bank in the United States, the Bank of North Dakota provides an example of state promotion of economic development through the provision of subordinated financing. Opened in 1919 with $2 million in capital, today, the Bank operates with more than $270 million. In partnership with over 100 other North Dakota financial institutions, the Bank continues to meet its mission to promote the development of agriculture, commerce and industry in North Dakota. Read more about Bank of North Dakota...

Alaska Permanent Fund Corporation

http://www.apfc.org

As a result of a 1976 voter initiative, the state of Alaska invests a minimum of 25% of oil and mineral royalty payments in a trust fund, with residents receiving an annual payment from the fund. With the fund's market value totaling more than $37 billion, annual dividends over the past ten years have ranged from $900 to $1,900 per person. Payments are made to every man, woman, and child — providing a significant support to family income. Read more about Alaska Permanent Fund Corporation...

AFL-CIO Housing Investment Trust

http://www.aflcio-hit.com

The AFL-CIO Housing Investment Trust (HIT) is one of the nation's largest pension investment programs specializing in housing investment. Read more about AFL-CIO Housing Investment Trust...

Urban Redevelopment Agency of Pittsburgh

http://www.ura.org

Incorporated in 1946, the Urban Redevelopment Agency of Pittsburgh (URA) undertook the first privately financed downtown redevelopment project in the United States— Gateway Center. Since then, the URA has constructed and rehabilitated tens of thousands of homes, reclaimed thousands of acres of environmentally contaminated brownfield and riverfront sites, and assisted hundreds of businesses in neighborhoods throughout Pittsburgh.  Its Center for Innovation and Entrepreneurship has a range of loan programs designed to help finance commercial real estate and small and medium size business development, as well as a network of technical assistance providers and partners to help businesses start, improve, and grow.

Read more about Urban Redevelopment Agency of Pittsburgh...

Pittsburgh Community Reinvestment Group

http://www.pcrg.org

Formed in 1988, the Pittsburgh Community Reinvestment Group (PCRG) is a coalition of community leaders working for economic justice, equitable investment practices, and the deployment of sufficient financial resources to revitalize communities throughout Pennsylvania’s Allegheny County.  In 2011, PCRG launched the Community Bankers Collaborative Council, which brings communities and small local banks together to identify issues and work on solutions.  That same year, it also initiated its Reimagining Communities Initiative (RCI) to build capacity within distressed neighborhoods.  As of March 2015, RCI raised over $1 million and leveraged an additional $6 million, inventoried the condition of around 5,500 parcels, rehabbed over 100 properties, and provided more than 400 individuals with financial, foreclosure, or homebuyer counseling.  PCRG’s core work also includes research and analysis to inform the community about trends in local and national lending and financial regulations.

Read more about Pittsburgh Community Reinvestment Group...

Center on Wisconsin Strategy

http://www.cows.org

The Center on Wisconsin Strategy (COWS) is a research and policy center dedicated to improving economic performance and living standards in the state of Wisconsin and nationally. Based at the University of Wisconsin-Madison with an office in Milwaukee, COWS promotes “high-road” strategies that support living wages, environmental sustainability, and innovative local polices that support community wealth building objectives. Read more about Center on Wisconsin Strategy...

Center for Economic Investment

http://www.nyc.gov/html/ceo

In 2006, then Mayor Michael Bloomberg announced that the newly created Center for Economic Opportunity (CEO) would oversee a new $150 million per year initiative to fund more than 30 City anti-poverty programs recommended by the Commission for Economic Opportunity. Included in this effort are programs to help low income individuals build assets, increasing education opportunities for at risk adults, and creating employment opportunities for disengaged young adults.  Since its inception, CEO has launched over 60 anti-poverty programs credited with serving more than 500,000 people. Read more about Center for Economic Investment...

Green Impact Zone of Missouri

http://www.greenimpactzone.org

The Green Impact Zone is an initiative focused on Kansas City in order to demonstrate that a community can be transformed by concentrating resources. Through funding, coordination, and partnerships, the initiative aims to create jobs, improve energy efficiency, and strengthen communities through rehabilitation of housing units, community services, job training and placement, and wellness programs. Read more about Green Impact Zone of Missouri...

C40 Cities Climate Leadership Group Clinton Climate Initiative - Houston

http://live.c40cities.org

Houston is a member of the C40 Cities Climate Leadership Group, a collaborative effort by almost 60 cities globally to make meaningful and sustainable climate related changes locally that will impact climate change globally. As part of this effort and in partnership with the Clinton Climate Initiative, the city has begun on a project to retrofit and make more energy efficient all city buildings - 271 buildings, encompassing 11 million square feet - by 2014. Read more about C40 Cities Climate Leadership Group Clinton Climate Initiative - Houston...

Bank On Houston

http://www.bankonhouston.org

An offshoot of the Bank On America program, Bank On Houston started when the City of Houston became the first city in Texas to sign up in May 2008. With an estimated 10 percent of the city unbanked, Bank on Houston is a collaborative effort that offers low-cost starter checking accounts to the unbanked, helping them begin the process of wealth and asset building. Setting a goal of 10,000 new checking accounts for the year of 2009, the effort surpassed that number in just three months. By June 2010, 40,000 had signed up. Read more about Bank On Houston...