Interior Department: Historic Tax Credit Generated $9.2 Billion in GDP and 163,000 Jobs in Fiscal 2025
The U.S. Department of the Interior on October 13 released the fiscal year 2025 economic impact report for the Federal Historic Tax Credit, prepared by Rutgers University's Center for Urban Policy Research through a cooperative agreement with the National Park Service.
The report found that in fiscal 2025, rehabilitation projects supported by the credit generated an estimated $9.6 billion in private investment, supported approximately 163,000 jobs, and produced $6.8 billion in income and $9.2 billion in gross domestic product, with $18.1 billion in total economic output. The National Park Service certified 939 completed rehabilitation projects during the year and approved 1,170 proposed projects. On housing, the projects created 11,544 new units through adaptive reuse of historic buildings and rehabilitated 10,390 existing units, 53 percent of them low- and moderate-income. Nearly a quarter of projects were in communities with populations below 25,000, and 45 percent were in low- and moderate-income census tracts.
Secretary of the Interior Doug Burgum said historic preservation is an investment in America's future, and that the credit preserves the buildings that tell America's story while creating jobs, encouraging private investment and strengthening communities. Established in 1976, the program offers a 20 percent federal income tax credit for substantial rehabilitation of historic buildings; since the first project was certified in fiscal 1978, it has leveraged about $269.2 billion in rehabilitation investment and generated 3.6 million jobs.
Published by GSM · USA (original Chinese edition)
Photo: 图：内政部总部尤德尔大楼标识，华盛顿特区。摄影：G. Edward Johnson，CC BY 4.0，来源：Wikimedia Commons / Photo: Sign of the Stewart Lee Udall Building, Department of the Interior headquarters. Credit: G. Edward Johnson, CC BY 4.0, via Wikimedia Commons
