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PENN. REPORT REVEALS ECONOMIC BENEFITS OF HISTORIC PRESERVATION

Thursday, February 23, 2012 - 1:15AM

The Pennsylvania Museum & Historical Commission (PMHC) released a report on the economic benefits of historic preservation activities in Pennsylvania. Called “Economic Benefits of Historic Preservation Activities in Pennsylvania,” the report includes estimates of the economic and fiscal impact of the federal historic tax credit (HTC) program in Pennsylvania, as well as the potential economic and fiscal impact of a state HTC. The report estimates that from 1978 to 2010, the HTC program has, among other things, resulted in $17.1 billion in total economic impact and supported 148,000 jobs. PMHC projects that a state HTC would create an additional $130 million to $270 million in economic impact and 1,200 to 2,300 jobs annually.

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