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WASHINGTON, D.C.-The AFL-CIO Housing Investment Trust is looking to create 25,000 construction jobs by 2015, and it’s employing some creative financing to get the job done. The organization applies for, and uses, new market tax credits and its making private placements with state housing finance agencies, as well as using direct loans, according to Ted Chandler, COO.

The tax credit strategy was rolled out when HIT started a jobs initiative back in 2009, he says. “In the face of the Great Recession, President Obama asked the labor movement how it could help address the nation’s high unemployment rate. We made a commitment to create 10,000 construction jobs by the end of 2011.”

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