Past Projects

2011

Atlanta, GA

PlaceEconomics completed an assessment of the economic impact of historic preservation programs in Georgia.  [From the GA Historic Preservation Division]: Report findings show that historic preservation in Georgia spurs investment, attracts visitors, revitalizes downtowns, and effectively leverages scarce resources. Examples include the following:

  • Through federal and state tax incentive programs that encourage the rehabilitation of historic buildings, DNR’s
     Historic Preservation Division has helped contribute to the generation of 10,168 jobs and $420,046,800 in income to Georgia workers.
  • Heritage tourism in Georgia sustains 117,000 jobs, generating nearly $204,000,000 in wages and $210,000,000 in local tax revenues.
  • Nationally for every business that closes, 1.1-1.2 businesses open. National data available from 2004 to 2008 shows that Georgia’s historic downtowns generated 2.8 – 4.6 business openings for every business that closed· Historic Macon Foundation (HMF), a preservation nonprofit, works to revitalize historic neighborhoods.  HMF’s work has brought 140 formally vacant historic homes back on the market and added $141,474 a year in additional tax receipts for the city. Over 2,000 jobs were created.

    • State Representative Susan D. Holmes (House District 125), former Mayor of Monticello, said “I’ve seen first hand the positive impact that preservation can have on a community’s economy. This report supports what those of us involved in local economic development have known for a long time. Historic preservation, especially in this challenging budget environment, is key in our efforts to revitalize Georgia’s historic downtowns and neighborhoods.”

    Dr. Dave Crass, director of DNR’s Historic Preservation Division (HPD), added, “An earlier study produced in the 1990s (see below) confirmed that historic preservation does indeed make an economic difference to communities. This is an appropriate time to once again evaluate the importance of preserving and continuing to use Georgia’s historic places. Good News in Tough Times presents a strong case.”

    The full report can be downloaded here.

    Dover, Delaware

    PlaceEconomics completed an economic impact assessment of the state of Delaware’s Historic Preservation Tax Credit Program. Key findings included:

  • A commitment of approximately $35 million in tax credits has spurred private investment of over $166 million.
  • It has meant over 2,400 good jobs for Delaware citizens and added nearly $90 million in household income.
  • Dozens of Delaware’s historic buildings have been given new life. And this has meant quality space for small businesses, tax revenues for local government, and a renewed sense of pride in local communities.
  • The Delaware Historic Preservation Tax Credit, enacted as an economic development tool, has become one of the most effective programs advancing the Livable Delaware agenda.

    • The full report can be found here.