union station chicago / graham anderson probst and white 1925 // above > renovation goettsch partners 2016 courtesy goettsch partners
the federal historic tax credit, forms an essential part of the financial foundation on which the preservation of america’s past is built. research shows it doesn’t just preserve treasured landmarks, help revitalize economically depressed areas, and create much-needed jobs and housing. it results in a net gain in tax revenue. via chicago tribune
over the life of the program, the historic rehabilitation tax credit (htc) has:
created more than 2.4 million good-paying local jobs;
leveraged $131.8 billion in private investment in our communities;
used $25.2 billion in tax credits to generate more than $29.8 billion in federal tax revenue;
and preserved more than 42,293 buildings that form the historic fabric of our nation.