Now Available – The Second Annual Report on the Economic Impact of the Federal Historic Tax Credit

What do high-paying jobs, billions in private investment, and historic buildings have in common?

Together, they are revitalizing communities all across America.

• Historic rehabilitation creates thousands of local, high-paying, high-skilled jobs every year. According to research conducted by Rutgers University’s Center for Urban Policy Research, in 2009 and 2010 historic rehabilitation created over 145,000 new jobs. Over the 30-year life of the program 2 million jobs have been created.

• The Historic Tax Credit leverages private investment five times the cost of the program. For every $1.00 in Historic Tax Credits, $5.00 in private investment is leveraged. Taken over the life of the program the Historic Tax Credit is responsible for $90.4 billion in new investment in our urban and rural communities.

• Historic preservation stimulates the local economy. Over three-quarters of the economic benefits generated by rehabilitation remains in the local communities and states where the projects are located. This reflects the fact the labor and materials for historic rehabilitations tend to be hired or purchased locally.

• This is a government program that more than pays for itself. The cumulative, 32-year, $17.5 billion cost of the program is more than offset by the $22.3 billion in federal taxes these projects have generated.

Learn more about the economic benefits and recent impacts of the federal Historic Tax Credit program in the Second Annual Report on the Economic Impact of the Federal Historic Tax Credit and access the comprehensive First Annual Report here.