“The Historic Tax Credit more than pays for itself.” Preservationists know this instinctively, but when talking to city officials, business owners, and developers, solid quantifiable research is needed. A new Forum Focus brings you the findings of four important research efforts that assess the economic impact of tax incentive programs, including three that look at the federal Historic Tax Credit and one that documents the economic benefits of Ohio’s state rehabilitation tax credit.
Despite the impressive track record detailed in these reports, the Historic Tax Credit program is now in danger. The nation’s fiscal environment is leading to calls for broad scale tax reform and deficit reduction. In the effort to identify sources of revenue, some legislators have called for the elimination or reduction of the Historic Tax Credit. Therefore it is critical that preservationists become familiar with the results of these reports and use this information to advocate for the continuance and enhancement of the Historic Tax Credit. To learn more about advocating for the Historic Tax Credit visit the National Trust for Historic Preservation's Advocacy Center.
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