Recently, Apple committed $2.5 billion to combat the housing crisis in California. Apple might be headquartered in the Bay Area, but earlier this year, it announced it would be opening an office in San Diego to house 1,200 employees. So will Apple’s housing fund impact San Diego?
It might. The company has set aside a significant portion of its investment to create an affordable housing investment fund, help first-time homebuyers, support vulnerable populations, and more throughout the state.
Eduardo Velasquez, senior manager at EDC, spoke to ABC about why housing affordability matters to Apple and other regional employers.
Through EDC’s Inclusive Growth initiative, we are working with 20+ local employers to address San Diego’s affordability crisis and create 75,000 newly thriving households by 2030. Housing, as well as transportation and childcare costs, impact the region’s affordability.
Learn more about EDC’s Inclusive Growth work.