YPA Releases New Report: Historic Preservation Creates Jobs!
Posted On: May 20, 2010
On May 20, 2010, YPA and Pennsylvania Works! released a new report that details the economic impact of historic preservation in southwestern Pennsylvania. The report, called “The Economic Impact of Historic Preservation in Southwestern Pennsylvania,” demonstrates the power of historic preservation to stimulate investment, generate taxes, create new housing units, and create jobs for Pennsylvanians that cannot be outsourced.
The report shows that in ten counties in southwestern Pennsylvania, over a five-year period, 2004 to 2009, historic preservation projects created:
> $475 million total investment,
> $65.6 million in taxes generated,
> 1,204 new housing units,
> 5.2 million square feet of space, and
> 3,042 permanent jobs.
The report measured the economic impact of historic preservation among YPA’s list of the Top Ten Best Preservation Opportunities, historic Main Street and Elm Street communities, and federal historic tax credit projects.
At a time when jobs are paramount, there’s no better way to stimulate the economy than through reinvesting in our core communities and historic structures.
Download a copy of the report here: Economic Impact in SW PA
YPA and Pennsylvania Works! call on the Pennsylvania legislature to pass a state law that provides incentives to owners of historic properties to preserve and reuse their old buildings. For the past ten years, the Pennsylvania legislature has been considering this legislation, but has failed to act. The time to act is now in order to put people back to work and invigorate the struggling economy.
The proposed legislation would provide direct grants to owners of historic properties to be used for building rehabilitation. It provides $15,000 for owners of residential properties, and up to $500,000 for owners of commercial properties. These funds not only fix up historic properties, but they employ local skilled labor that cannot be outsourced.
This economic impact report underscores the need for Pennsylvania to adopt this preservation incentive legislation to extend the economic benefits of preservation to all communities across the Commonwealth. Preservation puts people back to work, restores our core communities, and reinvigorates the tax base.
This new economic impact report is the definition of YPA’s slogan, “Give Life to History.”
YPA Press Release: YPAPressRelease 5-20-10
YPA CEO’s Remarks: YPA CEO Remarks 5-20-10
See images from the Press Conference here:
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| YPA Press Conference, May 20, 2010 |
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