Investing in People Pays Off: HR + Housing
- Jazzy T
- May 23
- 3 min read
Updated: Jun 3
Why Investing in Human Resources and Affordable Housing Powers Local Businesses
Why investing in human resources and affordable housing isn’t just good policy — it’s powering local businesses in a big way. This week on Elevating Enterprise, we discuss how New York State is turning equity into real economic opportunity.
The Importance of Diversity, Equity, and Inclusion (DEI)
In the early 2020s, DEI surged to the front of the national conversation. However, by 2025, it seems the momentum has slowed, and in some cases, disappeared altogether.
Programs have been cut. Corporate pledges have faded. Entrepreneurs from historically excluded communities are left wondering: Was all of this just a trend?
Maurice Barrett says absolutely not.
Recently named the Top Diversity Officer in America by the National Diversity & Leadership Conference, Maurice now serves as Chief Diversity Officer at New York State Homes and Community Renewal (HCR). Here, he’s proving that equity and economic development are not only connected but essential to the state’s future.
Inclusion Is Not a Trend — It’s a Strategy
In episode 6 of Elevating Enterprise, Maurice explained why the DEI landscape looks so different in 2025 and what’s really going on behind the scenes.
Available on Spotify | Apple Podcasts | YouTube
“We’re still doing the work. We’re just doing it more strategically,” he said. “Language matters. Every decision I make either furthers the disparity or shortens it.”
Following the Supreme Court’s 2023 ruling on affirmative action in college admissions, organizations have begun to quietly reassess the language and structure of their DEI efforts. Many have pivoted to terms like belonging, inclusive leadership, or culture building to continue the work without inviting legal scrutiny or political backlash.
However, for real DEI practitioners like Maurice, the mission hasn’t changed — just the messaging.
He emphasizes that equity is a strategic business imperative. Companies that embrace diversity outperform their peers, and the data supports this. According to a 2023 McKinsey report, companies with the most ethnically diverse executive teams were 36% more likely to outperform their industry peers in profitability (McKinsey, 2023).
Maurice urges business owners, especially MWBEs and veteran entrepreneurs, to stay the course:
“This work isn’t about checking boxes. It’s about building sustainable systems that serve real people.”
Affordable Housing: Strengthening Communities
So how does affordable housing fit into this picture?
At HCR, Maurice leads initiatives that have resulted in nearly 100,000 affordable homes built or preserved and 1,000+ small businesses funded. These developments are not just about shelter; they’re economic engines.
When families can access stable, affordable housing, they’re freed up to take risks, launch businesses, and contribute meaningfully to the local economy. That’s not charity; that’s strategy.
The Role of Minority- and Women-Owned Businesses
Even more powerful is how HCR ensures that MWBEs (Minority- and Women-Owned Business Enterprises) and SDVOBs (Service-Disabled Veteran-Owned Businesses) are not just beneficiaries but builders of these opportunities.
Through the Department of Empowerment, Compliance and Opportunities (DECO), qualified businesses can:
Get certified to bid on development projects
Access technical assistance to navigate state contracting
Receive mentoring and support through the proposal process
Build long-term partnerships on state-funded housing developments
These resources don’t just help business owners survive; they help entire communities grow.
“We’re not just building housing. We’re building legacy,” Maurice says. Explore DECO and current opportunities here: 🔗 https://hcr.ny.gov
Action Steps: Growing Your Business in 2025
For MWBEs and SDVOBs in New York State, Maurice and his team at HCR are doing more than talking. They’re providing real access to capital, development projects, and state contracts through the DECO Division.
Start Here:
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Position your business for success:
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Building with Intent: A Sustainable Future
For small business owners navigating rising costs, shifting policies, and an evolving DEI landscape, this is a reminder:
Your work matters.
Your voice is still needed.
Your opportunity is still out there.
Organizations like HCR demonstrate that equity can be a driver of growth when done with intention. Investing in human resources and affordable housing ultimately strengthens not only businesses but entire communities. So let us move forward, ensuring that equity remains central to our efforts for a better economic future.