Two newly released federal reports underscore the powerful role historic preservation plays in strengthening local economies and revitalizing communities across the country.
The National Park Service recently issued its latest analysis of the Federal Historic Preservation Tax Incentives Program, including a look at both the program’s economic impact and its accomplishments over the past fiscal year.
The Annual Report on the Economic Impact of the Federal Historic Tax Credits for Fiscal Year 2024, prepared in collaboration with the Rutgers University Center for Urban Policy Research, examines how the historic tax credit program affects the national economy. According to the report, the program continues to generate substantial economic activity, supporting jobs, private investment, and the rehabilitation of historic buildings across the United States.
A second report, Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report for Fiscal Year 2025, highlights the program’s activity during the past fiscal year. In total, projects receiving preliminary certifications represented an estimated $13.1 billion in rehabilitation costs, while projects receiving final certifications totaled $8.64 billion in completed rehabilitation work.
Both reports also feature case studies illustrating the program’s impact in communities across the country, with highlighted projects in Iowa, Florida, Texas, and Ohio.
The Federal Historic Preservation Tax Incentives Program is administered by the National Park Service’s Technical Preservation Services division in partnership with the Internal Revenue Service and State Historic Preservation Offices nationwide. Together, the program encourages the preservation and reuse of historic buildings while supporting economic development and community revitalization.
Programs like the federal historic tax credit continue to demonstrate that preserving historic places is not only about protecting heritage — it is also a powerful tool for investment, job creation, and sustainable development.