Energy Conservation I Sustainable Development I Responsible Contractor Policy I Everyday Responsibility

Responsible Contractor Policy and Economic Impact

MEPT believes that its commitment to union labor ensures that its newly constructed projects are built with the highest-quality craftsmanship in a given market, since training for most union workers consists of years of apprenticeship programs, classroom and jobsite training, worksite safety training, and ongoing journeyman training. MEPT maintains a Responsible Contractor Policy that requires that all work performed on the Fund's construction sites, tenant improvements, or renovation projects be performed by contractors signatory to a collective bargaining agreement. In addition, MEPT requires that janitorial services be provided by signatory contractors, or contractors paying prevailing wages and benefits.

RESPONSIBLE CONTRACTOR POLICY

A responsible contractor policy ensures that MEPT has the best built and maintained buildings in its competitive set and that projects are completed on time and on budget as a result of the skilled and well-trained union contractors responsible for each project. The quality craftsmanship ensures that the Fund's buildings are the most desirable to tenants. Because MEPT makes substantial investments in new construction projects, its investments create jobs and generate economic activity and tax revenues in the communities where the Fund invests. The ancillary benefit of job creation and economic activity is significant - MEPT has created more than 67 million job hours for building trades members since the Fund was founded. In addition, it has generated more than $13 billion in economic activity in markets across the U.S. In addition, these assets have created approximately 5,000 "green" jobs for the construction and professional services sector.

JOB CREATION AND ECONOMIC IMPACT OF MEPT