The National Park Service (NPS) released its Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report for Fiscal Year 2014 and a supplementary Statistical Report and Analysis for Fiscal Year 2014.

According to the report, NPS:

  • Approved 1,156 proposed projects and $5.98 billion in rehabilitation work.
  • Certified 762 completed projects and $4.32 billion in rehabilitation works.

The projects resulted in 19,786 new or renovated housing units, 6,540 of which were low and moderate income units. According to NPS, the projects created 77,762 jobs. NPS estimates that more than half of the completed projects it certified used both Federal and state historic tax credits.

NPS’s Federal Historic Preservation Tax Incentives Program is designed to promote historic preservation and community revitalization through historic rehabilitation. The program has completed more than 40,380 since its inception in 1976 and generated more $73 billion in the rehabilitation of income-producing historic properties. It is the largest federal program specifically supporting historic preservation.