State & Local Investments

State & Local Investments

AFL-CIO Housing Investment Trust

The AFL-CIO Housing Investment Trust (HIT) is one of the nation's largest pension investment programs specializing in housing investment. Read more about AFL-CIO Housing Investment Trust...

Alaska Permanent Fund Corporation

As a result of a 1976 voter initiative, the state of Alaska invests a minimum of 25% of oil and mineral royalty payments in a trust fund, with residents receiving an annual payment from the fund. With the fund's market value totaling more than $37 billion, annual dividends over the past ten years have ranged from $900 to $1,900 per person. Payments are made to every man, woman, and child — providing a significant support to family income. Read more about Alaska Permanent Fund Corporation...

Bank of North Dakota

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...

BioAdvance

BioAdvance was established in 2002 with a grant of $33.8 million from tobacco settlement money to use as seed money to finance venture investments in the life sciences industry in southern Pennsylvania. As one of three funds statewide, it is part of a larger effort, which involved dedicating 19 percent or $2 billion worth of the state's tobacco settlement money to develop biotechnology and related industry. Read more about BioAdvance...

CalPERS, "California Investments"

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"...

Maryland Venture Fund

The Maryland Investment Financing Group invests in Maryland business through direct investments in seed companies (Challenge Fund), in somewhat more developed emerging technology companies (Enterprise Investment Fund), and through its participation in venture capital limited partnerships. Read more about Maryland Venture Fund...

Mass Ventures

In 1978, Massachusetts' state government established Mass Ventures (which was formally known as the Massachusetts Technology Development Corporation) to address the "capital gap" for start-up and expansion of early-stage technology companies. Read more about Mass Ventures...

New York City Comptroller, "Economically targeted investments"

In 2003, the New York City Comptroller's office made new economically targeted investments (ETI) or financial commitments of city worker pensions totaling $234.5 million and has increased its investments since that period. Since the ETI program began, close to $2 billion has been invested in New York City’s five boroughs. Read more about New York City Comptroller, "Economically targeted investments"...

Pacific Community Ventures

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...

Retirement Systems of Alabama

This fund has long been considered among the more aggressive funds in using pension capital to finance state economic development. RSA is best known for financing the development of the Robert Trent Jones Golf trail, providing tourism jobs in state, as well as a good return for pensioners. Read more about Retirement Systems of Alabama...

State of Wisconsin Investment Board, “Invest In Wisconsin”

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”...

ULLICO (Union Labor Life Insurance Co.)

One of the nation's leading union-friendly investors, the Union Labor Life Insurance Company (ULLICO), is working to support sustainable development through labor-based pension activism such as the “J for Jobs” program, a tax-exempt pension plan that invests in income-producing properties that are exclusively union built. Read more about ULLICO (Union Labor Life Insurance Co.)...

Vermont Sustainable Jobs Fund

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...

Washington State Investment Board, "Economically targeted investments"

In March 2003, the Washington State Investment Board adopted a new policy requiring annual reports of the pension funds in-state investments. In January 2004, the pension board reinforced this action by reaching a memorandum of understanding to coordinate efforts to promote in-state, high-tech business with the Washington Technology Center. According to their 2004 report, the pension fund currently invests $1.3 billion in in-state companies. Read more about Washington State Investment Board, "Economically targeted investments"...

State & Local Investments

AFL-CIO Housing Investment Trust

The AFL-CIO Housing Investment Trust (HIT) is one of the nation's largest pension investment programs specializing in housing investment. Read more about AFL-CIO Housing Investment Trust...

Alaska Permanent Fund Corporation

As a result of a 1976 voter initiative, the state of Alaska invests a minimum of 25% of oil and mineral royalty payments in a trust fund, with residents receiving an annual payment from the fund. With the fund's market value totaling more than $37 billion, annual dividends over the past ten years have ranged from $900 to $1,900 per person. Payments are made to every man, woman, and child — providing a significant support to family income. Read more about Alaska Permanent Fund Corporation...

Bank of North Dakota

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...

BioAdvance

BioAdvance was established in 2002 with a grant of $33.8 million from tobacco settlement money to use as seed money to finance venture investments in the life sciences industry in southern Pennsylvania. As one of three funds statewide, it is part of a larger effort, which involved dedicating 19 percent or $2 billion worth of the state's tobacco settlement money to develop biotechnology and related industry. Read more about BioAdvance...

CalPERS, "California Investments"

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"...

Maryland Venture Fund

The Maryland Investment Financing Group invests in Maryland business through direct investments in seed companies (Challenge Fund), in somewhat more developed emerging technology companies (Enterprise Investment Fund), and through its participation in venture capital limited partnerships. Read more about Maryland Venture Fund...

Mass Ventures

In 1978, Massachusetts' state government established Mass Ventures (which was formally known as the Massachusetts Technology Development Corporation) to address the "capital gap" for start-up and expansion of early-stage technology companies. Read more about Mass Ventures...

New York City Comptroller, "Economically targeted investments"

In 2003, the New York City Comptroller's office made new economically targeted investments (ETI) or financial commitments of city worker pensions totaling $234.5 million and has increased its investments since that period. Since the ETI program began, close to $2 billion has been invested in New York City’s five boroughs. Read more about New York City Comptroller, "Economically targeted investments"...

Pacific Community Ventures

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...

Retirement Systems of Alabama

This fund has long been considered among the more aggressive funds in using pension capital to finance state economic development. RSA is best known for financing the development of the Robert Trent Jones Golf trail, providing tourism jobs in state, as well as a good return for pensioners. Read more about Retirement Systems of Alabama...

State of Wisconsin Investment Board, “Invest In Wisconsin”

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”...

ULLICO (Union Labor Life Insurance Co.)

One of the nation's leading union-friendly investors, the Union Labor Life Insurance Company (ULLICO), is working to support sustainable development through labor-based pension activism such as the “J for Jobs” program, a tax-exempt pension plan that invests in income-producing properties that are exclusively union built. Read more about ULLICO (Union Labor Life Insurance Co.)...

Vermont Sustainable Jobs Fund

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...

Washington State Investment Board, "Economically targeted investments"

In March 2003, the Washington State Investment Board adopted a new policy requiring annual reports of the pension funds in-state investments. In January 2004, the pension board reinforced this action by reaching a memorandum of understanding to coordinate efforts to promote in-state, high-tech business with the Washington Technology Center. According to their 2004 report, the pension fund currently invests $1.3 billion in in-state companies. Read more about Washington State Investment Board, "Economically targeted investments"...