Historic District Commission

Effects on Economic Development

Historic preservation adds value to the lives of both Michigan residents and visitors alike. And because Michiganhas an abundance of historic properties, we have the ability to capitalize on our State’s legacy by taking advantage of their invaluable cultural, aesthetic, educational and economic benefits.

Historic preservation not only promotes an increased appreciation of the past. It often acts as a key feature of successful community planning and economic development. Historic preservation activities are cost-effective tools that may be used to leverage private capital, create jobs, revitalize neighborhoods or business districts, and stimulate a wide range of other economic activities. Some examples of these economic benefits are:

• Federal rehabilitation tax credit
  $807.6 million in qualified rehabilitation costs covered on 611 projects in Michigan since 1978.
• State rehabilitation tax credit
  $8 million in qualified rehabilitation costs covered on 205 projects in Michigan since 1999.
• Job and income creation
  20,252 jobs created by rehabilitation activities in Michigan, with a direct and indirect economic impact of $1.7 billion, since 1971.
• Tourism
  Preserving historic character provides interesting and unique opportunities for visitors coming to the state of Michigan.