This year, the Connecticut Health and Educational Facilities Authority (CHEFA) celebrates a milestone — 60 years of helping Connecticut’s nonprofits grow stronger so they can better serve Connecticut residents. But what does six decades of impact look like in today’s terms?
According to a new economic impact study by IHS Markit, from 2019 through 2024, CHEFA facilitated more than $2.06 billion in tax-exempt financing for capital projects at Connecticut’s nonprofit healthcare and educational institutions. These projects generated an average annual impact of $900 million to the state’s gross domestic product and supported an average of 9,486 jobs each year, over half of which were in the construction sector.
However, CHEFA’s impact goes beyond the numbers — it’s seen in the construction teams bringing Yale New Haven Health’s Neuroscience Tower to life, the educators and researchers shaping the future at Sacred Heart University’s expanded Health & Science Center, and the families who now have greater access to high-quality care at Connecticut Children’s Medical Center.
These projects not only create jobs but also foster long-term economic resilience. CHEFA-financed facilities attract talent, drive research and innovation, and offer essential services that uplift entire communities.
Notably, these economic benefits are realized without placing a burden on Connecticut taxpayers. As a self-sustaining organization, CHEFA enables institutions to pursue essential improvements in healthcare, education, and community services. By offering access to affordable financing, CHEFA helps mission-driven organizations act when it matters most by supporting long-term investments that strengthen Connecticut’s future, even in times of economic uncertainty.
As we reflect on CHEFA’s 60 years of service, we do so with pride in what we’ve helped make possible — and with a deep sense of responsibility for what lies ahead. Connecticut’s needs are evolving, and so is CHEFA. Whether it’s helping fund pediatric hospitals, student housing, or mental health facilities, CHEFA’s mission remains clear: to advance a healthier, more educated, more resilient Connecticut.
The numbers tell one story. But the real impact of CHEFA is measured in stronger communities, greater opportunity, and a better future for all.