Historic Preservation Created 128,500 Jobs in 2018

A study by Rutgers University’s Center for Urban Policy Research found that the federal historic preservation tax credit program created 128,500 jobs, added $7.4 billion to the gross domestic product and resulted in $5.4 billion of income during the federal government’s 2018 fiscal year (October 1st, 2017 – September 30th, 2018).

The income tax credits, which cover 20 percent of applicable redevelopment costs on income-producing projects, are administered by the National Park Service and support real estate projects that often take years to complete. Thirty-five states, including Wisconsin (20 percent), offer a supplement state credit to further offset the cost to rehabilitate federally-designated historic properties.


- - Volume: 7 - WEEK: 41 Date: 10/10/2019 7:06:29 AM -