As a result of Preservation Maryland and its many partners’ ongoing and sustained advocacy, $9 million more historic tax credit projects were recently funded across Maryland. As a result, over $180 million worth of projects will move forward – underscoring the importance of preservation advocacy. However, the lack of geographic diversity in the projects awarded highlights the continued need for more funding in the program.
Rutgers University and the National Park Service released the latest Annual Report on the Economic Impact of the Federal Historic Tax Credit. The data from fiscal year 2018 compiled in the document describe the positive impact of the historic rehabilitation projects on indicators like job growth and leveraged investment.