Federal and state investment tax credits for rehabilitations of historic buildings have had a profound impact on historic preservation and economic development in North Carolina. Since federal preservation tax credits were first introduced in 1976, over 700 income-producing historic buildings in North Carolina have been rehabilitated at a construction investment of over 300 million dollars. A new state credit for non-income-producing historic structures, inaugurated in 1998, has stimulated 22 million dollars in construction activity for 250 historic private residences in its first two years. The spinoff from all this activity includes job creation, downtown and neighborhood revitalization, improved community appearance, and greater community pride. Historic preservation is smart growth, and smart investment.
For more information, visit the Federal and State Historic Preservation Tax Credits website.