The National Trust Community Investment Corporation recently teamed up with Rutgers University to publish its “First Annual Report on the Economic Impact of the Federal Historic Tax Credit.” The report:
- Provides an overview of the Federal and State Historic Tax Credit Programs;
- Discusses the Economic Impacts of the Federal Historic Tax Credit;
- Provides Qualitative Impact Analysis of the Federal Historic Tax Credit through National Case Studies; and
- Details the Input-Output Analysis used to Investigate the Historic Tax Credit.
The report finds that historic tax credits successfully created more jobs than other stimulus options, and underscores the need for additional legislation to strengthen the federal credits, making them more widely available for smaller, rural projects.