Economic Impacts of Historic Preservation
In September 2002, "Economic Impacts of Historic Preservation in Florida" was published by the Florida Department of State, Division of Historical Resources with the assistance of the Florida Historical Commission. The study and report were prepared by the Center for Governmental Responsibility, University of Florida Levin College of Law, and the Center for Urban Policy Research (CUPR), Rutgers, The State University of New Jersey School of Planning and Public Policy.
In 2007, an update of the 2002 study was commissioned, and a grant was awarded to the same research team as the earlier study. As with the original Economic Impacts Study, the updated publication includes information on preservation-related activity in the following areas: 1) rehabilitation, including projects funded by the federal rehabilitation tax credit; 2) heritage tourism; 3) history museums; 4) Florida Main Street; and 5) historic preservation grants.
Since completion of the 2002 report, several events of international economic significance have occurred that have had an adverse effect on Florida's economy:
- The impacts of the September 11, 2001 attacks on the World Trade Center and the Pentagon on travel, tourism and on the international economy;
- The economic meltdown of world banking and financial markets, impacting lending, housing, and construction since 2008;
- The resultant worldwide recession, which continues into 2010;
- The economic struggles of state and local governments as both sales and property tax revenues fall; and
- Negative unemployment trends.
An awareness of these factors is important in reviewing the findings included in the current study which examines the total economic outcome of historic preservation in Florida. A detailed explanation of the methodology of the study is found in the Technical Report is available from the Bureau.