A new report from the Massachusetts Association of Community Development Corporations (MACDC) hails the economic impact of CDCs, saying that in 2012 local CDCs built or preserved 1,511 homes in 2012 while generating a total economic impact of $460 million across the state

The report is the 10th annual study released as part of a MADAC initiative to document CDC’s activities.

"These results demonstrate what happens when local residents and business owners come together to work with the public and private sector to get things done," MACDC President Joseph Kriesberg said in a statement.  "Despite the challenging times, [CDCs] continue to amass amazing results in urban, rural and suburban communities across the state."

Since 2003, Massachusetts CDCs have built 13,238 homes and created or preserved 22,215 jobs, generating $2.7 billion of economic activity in and for their communities, according to MACDC.