Wages earned in Marin go bye-bye

paychecksLack of Workforce housing costs … real money

68,000 of Marin’s workforce go home to other counties. So do their paychecks.

More than half of Marin’s workers make less than $40,000 per year; they can’t afford to live here. They earn their money in Marin, but they spend it where they live–somewhere else.

A 2011 study by the Marin Economic Forum found that this outflow amounted to a $1.4 billion loss in potential revenue to local businesses. Imagine how much more vibrant Marin businesses could be if these Marin earnings could stay here because the wage earners lived here.

 

The Economic Forum’s study found that if affordable housing were built for just 1% of Marin’s in-commuters, the new households would generate over $14 million in total revenues for Marin’s economy. Annual spending by these workers and their families would translate into 97 new jobs and the wages that would go with them. The benefits to Marin? Let us count the ways:

1. Retaining the flow of money in Marin
2. Hundreds fewer commute cars on our roads
3. Reduced traffic congestion
4. Lower greenhouse gas emissions & improved air quality
5. Less impact on our infrastructure

And, constructing homes for this 1% would generate over $28 million in new business revenue.

MEHC says these numbers have real implications for Marin’s quality of life. The lack of balance between housing and jobs hurts local businesses. Also, many of our in-commuters are service-sector workers, like teachers, public maintenance and repair staff, healthcare workers, and home health aides. It’s getting harder and harder to fill those jobs—people don’t want to commute so far or spend so much for housing. Lost revenues deprive our economy; fewer job candidates threaten public safety, our kids’ education, and our health. Investing in workforce housing helps to balance our economy.