What is the impact of federal tax incentives?
In its 34th year, the federal tax credit program approved $3.42 billion in the rehabilitation of historic buildings, created 41,641 new jobs, and created or renovated 13,273 housing units.
A new report from the National Park Service, shows a nationwide impact in job creation, community reinvestment:
The Historic Preservation Tax Incentives Program, administered by the National Park Service in partnership with the State Historic Preservation Officers, is the nation’s most effective Federal program to promote urban and rural revitalization and to encourage private investment in rehabilitating historic buildings
Federal tax incentives are available for income-producing certified historic structures and may be combined with state tax incentives. All preservation tax credit programs are administered through the N.C. Historic Preservation Office in the Dept. of Cultural Resources.