RVPF’s President Alison Blanton has written another article for the Roanoke Times on the economic value of historic tax credits and their impact beyond just the obvious tax incentives. She writes “To date, more than 2,350 federal and/or state HTC projects have been completed in Virginia. These projects total more than $4 billion in private investment and have created more than 31,000 full or part-time jobs. These HTC projects, which have been completed in 85 out of 90 counties in Virginia, not only renovate historic buildings, they revitalize the local economy. Studies show that over 75 percent of the dollars invested in HTC projects stay in the local economy as labor and materials tend to be local.” Clearly, preservation is a wonderful economic tool and RVPF agrees with Alison that the tax credit program is an invaluable asset to the state.
You can read the full article here.