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NEBF model shows economic effect on community, workers

August 9, 2021

The National Electrical Benefit Fund in Washington has modeled its real estate program to show quantifiable impacts that include strengthening the pension fund itself. It’s an approach likely to be copied as more pension funds and managers address ESG demands.

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The financial crisis inspired Ullico to "add more science" to quantify the economic impact of its lending, and helped the fund get back into the marketplace.

Joseph R. Linehan, president of Ullico subsidiaries Ullico Investment Advisor Inc. and Ullico Investment Co LLC.

Proving the impact in terms of union jobs was not new for Ullico, either. Its 'J for Jobs' separate account with $3.5 billion from union pension fund investors lends to real estate developers and property owners while requiring union labor on all construction.

Every time we close a deal, we present the transaction's details to an independent economist to quantify the number of jobs, state and local taxes and more.

Joseph R. Linehan, president of Ullico subsidiaries Ullico Investment Advisor Inc. and Ullico Investment Co LLC.