Economic Benefits of Historic Preservation

The results of a two-year study by the Center for Urban Policy Research at the Edward J. Bloustein School of Planning and Public Policy at Rutgers, the State University of New Jersey find that historic preservation has a tremendous impact on Arkansas’s economy. The study looked into the economic impact of the federal Historic Rehabilitation Tax Credit, the anticipated effect of a proposed state tax credit, heritage tourism, rehabilitation of historic properties, state historic preservation grants and the Main Street Arkansas program. All of the figures cited are in 2006 dollars. Click here for a pdf brochure of the findings. Click here for a synopsis of some of the major findings.

Click on the links below to read the complete study.

Executive Summary Executive Summary (4400 KB)

Chapter 1 Analytical Background Chapter 1 Analytical Background (72 KB)

Rehabilitation of historic properties like Jefferson Coounty’s DuBocage House in Pine Bluff adds $40.9 million to the yearly income of Arkansas families and generates $3.3 million in state and local taxes annually.

Chapter 3 Heritage Tourism Chapter 3 Heritage Tourism (254 KB)

 

Chapter 4 Main Street Arkansas Chapter 4 Main Street Arkansas (260 KB)


Chapter 5 Federal and State Tax Credits Chapter 5 Federal and State Tax Credits (756 KB)

 

Judson Millard House in Little Rock was rehabilitated using the federal and state Historic Rehabilitation Tax Credits. The federal credit leveraged $54.3 million for historic rehabilitations and supported 767 Arkansas jobs between 2000 and 2006.

Chapter 6 State Preservation Grant Programs Chapter 6 State Preservation Grant Programs (223 KB)


Chapter 7 Historic Property Valuation: Issues and Impacts Chapter 7 Historic Property Valuation: Issues and Impacts (618 KB)

Appendix A Input-Output Analysis Appendix A Input-Output Analysis (122 KB)

Appendix B Bibliography Appendix B Bibliography (119 KB)