The National Park Service (NPS) recently published its annual report on the historic tax credit program for 2011. The report, entitled “Federal Tax Incentives for Rehabilitating Historic Buildings: Annual Report for Fiscal Year 2011,” includes information about the program’s use and performance throughout 2011. According to the report:
- Certified HTC projects in 2011 created an estimated 55,458 new jobs nationwide. On average, 78 new jobs were created per project;
- Over 1.39 million historic buildings are listed in historic districts. Approximately 20% of these are income-producing;
- Total investment in proposed projects totaled an estimated $4.02 billion for 937 projects;
- At least 30 states now offer state historic tax credits. Over 48% of the completed projects in 2011 also received state historic tax credits; and
- In 2011, approximately 7,470 low- and moderate-income housing units were created using historic tax credits.
In conjunction with the annual report, the NPS also released a Statistical Report and Analysis. The statistical report provides a more detailed analysis of the program, including state-by-state project activity and program trends over time.