Home building remains a key contributor to the Massachusetts economy that could provide a boost to the state’s nascent recovery, according to a study to be released today by the Home Builders Association of Massachusetts.
It estimated that even in depressed 2009, home building generated nearly $2 billion in income for Massachusetts contractors and workers; more than 20,000 jobs, directly and indirectly; and more than $300 million in taxes and fees for governments.
The study estimated homes built last year would continue to generate nearly $300 million a year in income, through earnings of the homeowners and spending on housing-related goods and services.
“The ripple effects are large,’’ said Elliot Eisenberg, senior economist at the National Association of Home Builders, which prepared the study.
The study is being released as the Legislature considers extending building permits for projects put on hold during the recession. Permits typically expire after two years. A measure supported by the Patrick administration would keep them valid for an additional three years. But Geoffrey Beckwith, executive director of the Massachusetts Municipal Association, said such blanket extensions would undermine local control of building.
Robert Gavin Boston Globe June 8, 2010