Economic Impacts Of Historic Preservation

"Historic preservation has a far-reaching impact on the local and state economy, as Dwayne Jones of Urban Prospects, half of the consulting team hired by the City of Oklahoma City to create guidelines for the historic preservation process, illustrated for City Council members Tuesday.... Using data for Texas, where Jones and his partner Marcel Quimby are based, Jones made it clear that the monetary benefits of preservation and rehabilitation far outstrip the visual. For every $1 million of investment in Texas Main Street cities, 24 jobs are created in the state, $580,000 of income is generated, $51,000 in state taxes are generated, $50,000 in local taxes are generated and the gross state product increases by $900,000, the study shows."

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