As a community-engaged bank, the SF Fed seeks out real-time information on economic conditions by engaging with and learning from businesses, community organizations, and local leaders. These conversations are one of the many inputs into the decisions and policymaking at the Federal Reserve as we pursue our mission.
Here’s a snapshot of a recent visit to a manufacturing company in Las Vegas from Deborah Campbell, regional executive officer covering southern Nevada.
As southern Nevada’s regional engagement officer at the SF Fed, I frequently collaborate with regional Bank colleagues in the area on neighborhood and community tours, roundtables, and speaking engagements to advance our work to build a stronger economy for all Americans.
Recently, I had the opportunity to tour the factory of a startup called Boxabl with Qiana Charles, vice president and regional executive for the Los Angeles branch of the SF Fed.
While Nevada is world renowned for its hospitality and gaming industries, the state is progressively becoming a manufacturing and logistics hub for the western United States—and Boxabl is one of these companies contributing to this growth.
Boxabl is a mass-scale accessory dwelling unit (ADU) manufacturing company that designs and builds folding dwellings that are constructed as a studio apartment or casita, with a full-size bathroom and kitchen amenities. These ADUs are standalone living structures that exist separately from, but on the same property as, a main residence.
During our tour, we learned that Boxabl employs just over 200 employees mostly from the surrounding area. Many of these employees received training for their positions on the assembly line and are provided with opportunities to progress in their careers and even purchase a Boxabl themselves. Boasting a waiting list of more than 160,000, Boxabl says they have government contracts for disaster relief or housing for workers, as well as private buyers who are looking for starter homes or homes to retire in.
Thank you to Boxabl for the tour and for the opportunity to sit down with members of your executive team to hear more about your vision to help make affordable housing accessible and a reality for everyone. This visit is an example of the SF Fed’s business outreach and community engagement strategies to listen and learn about the effects of monetary policy and inflation on businesses and their employees. For me, it’s personal: I get out in the field as much as possible to tour businesses and talk with people, and it helps me internalize how the Fed is working to build a strong economy for all Americans.
The views expressed here do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System.