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STUDY: HISTORIC TAX CREDIT HAS CREATED MORE THAN 2.3 MILLION JOBS

Thursday, August 1, 2013 - 7:00AM

The federal historic tax credit (HTC) program has a significant positive effect on the economy while more than paying for itself, according to the fiscal year (FY) 2012 update of research released annually by Rutgers University and the National Park Service. The Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2012 reveals that the federal HTC has created 2.3 million jobs, attracted $106 billion in private investment and restored 38,700 historic buildings since its inception more than 35 years ago. In addition, the report shows that the HTC yields a net benefit to the Treasury Department; the HTC has helped generate nearly $26 billion in federal taxes while costing only $20.5 billion in credits allocated.
Join industry experts to discuss these findings and what lies ahead for the historic tax credit community at the Novogradac Historic Tax Credit Conference in Detroit, Sept. 19-20.

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