State & Local Investments

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...

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"...

Based in Boston, Mass Ventures is a quasi-public venture capital firm aiming to grow Massachusetts’ innovation economy by funding early-stage, high-growth startups transitioning from concept to commercialization.  Since its establishment in 1978, Mass Ventures-supported companies have raised more than $1 billion in additional capital, creating jobs for over 7,500 Massachusetts residents and generating an estimated annual payroll of $229 million.

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...

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”...

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...