A publication released today by the National Trust for Historic Preservation and The Milwaukee Preservation Alliance documents that the federal historic tax credit has drawn $621 million in private investment to 154 historic rehabilitation projects and created more than 6,000 permanent jobs in Wisconsin since 2001. The publication’s release comes at the same time as a major preservation victory in Wisconsin, as the state legislature and Governor Walker have just approved keeping the state’s historic tax credit intact and without a cap on the program’s annual expenditures.

The report demonstrates that the federal historic tax credit is instrumental in helping revitalize underutilized portions of the state’s smaller communities and most populated areas alike. Many of the buildings highlighted in the report now serve the community as affordable housing, retail space, and office space which has helped revitalize these neighborhoods. These rehabilitation efforts result in vibrant, modernized buildings that generate income, sales and property tax, and a new appreciation in their communities.

“Across Wisconsin - from Superior to Racine, from Green Bay to Milwaukee - the federal historic tax credit allows historic places to be repurposed while generating jobs and income for the citizens of these communities,” said Thomas J. Cassidy, Jr., vice president for government relations and policy, National Trust for Historic Preservation. “This report demonstrates that the reuse of historic structures is cost effective while simultaneously adding to the richness of Wisconsin’s communities.”

The report highlights nine historic rehabilitation projects of varying size and type, including the Mitchell Wagon Factory Lofts in Racine, the Turn Halle Building in Cedarburg, and the Historic Fox River Apartments in Appleton. All were formerly vacant or underutilized properties that are now new places to work, live and play in buildings that help tell the story of Wisconsin’s unique past.

“Wisconsin’s steady commitment to the state historic tax credit builds on the success of the federal program,” said Dawn McCarthy, president, Milwaukee Preservation Alliance. “The state and federal tax incentives combine to effectively encourage private investment in the rehabilitation of treasured buildings statewide, bringing new community space, hubs of residential activity, and economic development.”

The entire report and profiles of all nine featured projects are available here.