Annual NPS Report: HTC Generated 135,000 Jobs, $8 Billion in Investment in 2021
Properties financed by equity from the federal historic tax credit (HTC) generated 135,000 jobs and $8 billion in total rehabilitation investment in 2021, according to the Annual Report on the Economic Impact of the Historic Tax Credit for Fiscal Year 2021, released today by Rutgers University and the National Park Service. The jobs total was up 10.6% and the investment total was up 9.5% over the reported 2020 totals. The NPS certified 1,063 completed historic rehabilitation projects in fiscal year 2021 and approved another 1,098 proposed projects. According to the report, 44% of the projects in 2021 were in low- and moderate-income census tracts and 78% were in economically distressed areas. The report states that the HTC has produced more than 3 million jobs since 1979 and has led to an additional $60.7 billion in federal, state and local taxes.
Historic preservation stakeholders will gather to discuss the state of the HTC at the Novogradac 2022 Historic Tax Credit Conference in Oct. 6-7 in St. Louis.