The National Trust for Historic Preservation is reporting on Historic Preservation Advocacy Day today, where representatives from the preservation community are visiting their elected officials and informing them that “Preservation Equals Jobs.”
The Trust reports that:
In 2011, the federal rehabilitation tax credit created 55,458 jobs and generated $4.02 billion in investment. One million dollars spent on rehabilitation, compared to $1 million spent on new construction, yields between 5 and 9 more local construction jobs. Preservation is a good return on investment—it creates jobs, encourages investment in existing communities, and supports the tourism industry.
The Trust also reported on three bills that have the potential to improve the effectiveness of the existing historic rehabilitation tax credit program:
H.R. 2479 and S. 2074, Creating American Prosperity though Preservation Act (CAPP), which would amend the existing program for commercial buildings to expand historic preservation’s community and job-creating power, encourage greater reinvestment in America’s Main Street neighborhoods, and foster economic development.
H.R. 2555, Historic Homeownership Revitalization Act, which would add a tax credit for owner-occupied historic homes that is similar to the current tax credit for commercial buildings. This will help revitalize communities, increase their tax base, and create jobs.
S. 1685, Rehabilitation of Historic Schools Act, which would amend the existing federal tax credit to make it easier to rehabilitate historic school buildings.
Read more about Historic Preservation Advocacy Day at www.preservationnation.org.
Following recommendations from the British Board of Trade in 1720, extensive land grants to proprietors were discouraged, instead favoring compact settlements. This resulted in yeomen, not aristocrats, transforming the Shenandoah Valley into a commercial center. This class will discuss events and profile leaders of this change.