Tourism & Economic Impact Since the 1970s, studies conducted by the National Trust for Historic Preservation, statewide Main Street Programs, state-level tourism and economic impact studies have shown that:
Creation of historic districts stabilizes and often increases residential and commercial property values.
Historic building rehabilitation, which is more labor intensive and requires greater specialization and higher skill levels, creates more jobs and results in more local business than new construction.
Heritage tourists spend more money and stay longer than non-heritage tourist.
Historic rehabilitation and designation encourages additional neighborhood investment.
Historic districts foster distinctive, attractive places that have a “Sense of Place”.
A locally designated landmark is eligible to apply for tax relief of city taxes for improvements, renovations or restorations to the structure which represent 10% of the value of the property and which improvements extend the life of the structure.