Check this page often for the most recent announcements of new publications, education and training opportunities, and tax credit statistics in addition to other TPS news.
of Historic Tax Credits Released
—New Brunswick, NJ—As part of a cooperative agreement with the National Park Service (NPS), the Rutgers University Center for Urban Policy Research undertook a study of the economic impacts of the Federal Historic Tax Credit for fiscal year 2012 (which ended on September 30, 2012) as well as the cumulative impacts of the program since 1978. In brief, the economic impact of the program in FY 2012 on a national scale included the creation of approximately 58,000 jobs and $3.4 billion in gross domestic product (GDP). State level impacts are also reported. For your convenience both the full report and an executive summary of the findings may be downloaded. Additional reports about the program are also available.
—Washington, DC—Beginning in July 2013 Technical Preservation Services will host a series of free educational webinars. Events are expected to occur monthly. Topics will include the historic tax credit program, the Secretary's Standards for the Treatment of Historic Properties, technical preservation issues, and other related subjects. Specific information about upcoming webinars will be posted on the TPS website including information about how to register for events.
Program Supports Historic Preservation and Community Revitalization—Tax Incentive Projects Created 57,800 Jobs and $3.5 Billion Economic Benefit in Fiscal Year 2012, 2.4 Million Jobs and $66 Billion in Private Investment Since Program’s Inception
Washington – The highly successful Federal Historic Preservation Tax Incentives Program is an important economic engine for states and local communities, creating an estimated 57,800 jobs and pumping $3.5 billion in local economies in Fiscal Year (FY) 2012 while preserving our nation’s historic buildings. FY 2012 marked the 35th anniversary of the first project to be certified under the program in 1977, and, since its inception, the program has created an estimated 2.4 million jobs and generated over $66 billion in private investment in historic rehabilitation.
The National Park Service has released a report marking the 35th anniversary of the program and highlighting the program’s accomplishments and economic benefits. The report features examples of the many projects, in communities both large and small throughout the country that have benefited from the program.
“The Federal Historic Preservation Tax Incentive Program strengthens communities, creates jobs, and is the nation’s most effective program to promote historic preservation and community revitalization through historic rehabilitation,” said National Park Service Director Jonathan B. Jarvis. “We are not only giving these buildings a new life in a manner that maintains their historic character, but also providing an important boost to local economies.”
Since its inception in 1976, the program has generated over $66 billion in private investment in historic rehabilitation. It has led to the rehabilitation or creation of 460,000 housing units, including 124,000 low-to moderate-income units. These projects have created more than 2.35 million jobs, employment that tends to be local, and more high skilled and higher paying than new construction. About two-thirds of projects are located in neighborhoods at or below 80% of area median family income.
—Washington, DC—Secretary of the Interior Ken Salazar announced on March 21, 2013, the results of a National Park Service review on promoting the use of the Federal Historic Preservation Tax Incentives Program in urban and economically depressed areas. The announcement, which includes a link to the full report and recommendations, can be found on the DOI main website.
—Washington, DC—Effective on December 31, 2012, fees for new historic tax credit applications will be charged according to a new fee schedule published in the Federal Register on November 30, 2012. Additional information about the new fees and which projects will be affected is available on our Application Fees page.