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Aug
2011
3

Million-Dollar Home Buyer Incentive Created Through Union Partnership in St. Louis



Missouri unions have pooled together money for a program called “Neighborhoods Built By Your Neighbors” to help stimulate a stagnant economy that has seen union tradesmen suffer 30% unemployment. According to an article by Evan Binns from BizJournal.com, the idea was conceptualized by John Eilermann, Jr. the Chairman and CEO of McBride and Sons, Inc. The unions will pull together $1 million to be used as incentives for those buying McBride homes with the hopes of stimulating the housing market. McBride and Sons is the largest home builder in St. Louis.

For Pat Kejlett, business manager for the 4,600 member Plumbers & Pipefitters Local 562, the partnership was an easy sell. “All the unions wanted to support the concept,” he said. “Negotiations with the unions happened quick.”

Joe Barrett, business manager for Painters & Allied Trades District Council 2, which has 2,800 members agreed. “We had our minds made up before we even had the meeting at McBride.” Barrett said, “I told them that it sounds like something we cannot afford to pass up at this time if it’s going to generate hours for our guys.”

In total, nine local unions, representing a total of 50,000 workers, have pulled together nearly $1 million in incentives for home buyers who purchase McBride homes.

Each union’s contribution is based on the percentage of trade hours it takes to build a typical McBride home. The incentives will range from $500 to $10,000, depending on the home price, and will be paid in cash at the closing, said Eilermann. The money can be used for any aspect of the home purchase.”

The program is said to be the largest union collaborative in the region’s history and shows that when banded together with innovative ideas, unions can do much to help their unemployed members. The money is coming from both the individual unions international organizations and marketing budgets. “You have to spend money to make money,” said Barrett.

Other unions that have agreed to the credit program include: Sheet Metal Workers Local 36, with 3,000 members; Greater St. Louis Construction Laborers, 4,000 members; International Union of Bricklayers & Allied Craftworkers, 1,000 members; International Union of Operating Engineers Local 148, 3,200 members and Cement Mason’s Local 527 1,020 members

The program began on August 1st and goes to either the end of the month or until the money runs out.

Another union investment program, the Housing Investment Trust (HIT), created 600 jobs for St. Louis residents this year.

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2 Comments on “Million-Dollar Home Buyer Incentive Created Through Union Partnership in St. Louis”

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  2. […] As CEO of McBride & Sons Homes, Inc., Eilermann has turned his company into one of the largest homebuilders in the country. As we reported in August, McBride & Sons created an inventive partnership with unions to stimulate the housing market in …: […]

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