Rutgers University’s Center for Urban Policy Research recently released a groundbreaking in-depth report analyzing the economic impact of the Federal Historic Tax Credit Program. Economists David Listokin and Michael Lahr utilized the Preservation Economic Impact Model (PEIM), an input-output model developed in partnership with NCPTT, to study direct as well as secondary multiplier effects of Federal tax credit-aided historic rehabilitation investment.
Report findings show that tax credit investment has generated $97.6 billion in GDP. Source: First Annual Report on the Economic Impact of the Federal Historic Tax Credit
Key findings determine that, since its inception in 1976, the tax credit program has generated 1.8 million new jobs and over $197 billion in output while providing incentives for the rehabilitation of more than 36,000 certified historic properties. The report further demonstrates clear economic returns per Federal dollars invested, netting the U.S. Treasury approximately $4.4 billion over FY 1978-2008.
Download the First Annual Report on the Economic Impact of the Federal Historic Tax Credit to learn more.