The plight of our neighbors moved us to turn our recent celebration of the new U.S. Bancorp corporate headquarters on Nicollet Mall into a fundraiser for affordable housing. While we are delighted to continue to make Minneapolis our home, we believe more must be done for those who cannot afford to rent or own one of their own. We applaud the efforts of city, state and federal officials, but the problem is too large for publicly funded efforts alone. A solution will require the resourcefulness and leadership of the business community. For businesses, supporting affordable housing is not only the right thing to do, but it's also the smart thing.
Successful companies help ensure they have a strong workforce to draw upon to fill jobs.
If affordable housing is unavailable nearby, jobs remain open, productivity suffers and the health and vitality of our community is weakened. According to the U.S. government, households should not spend more than 30 percent of their annual income on housing. Any more often leads to cutting necessities, such as food or medical care. There is no easy solution. But we believe that when businesses do what they do best, and partner with local government and strong community groups, great things can happen.