The National Park Service has ranked Virginia second among the 50 states for a second consecutive year in the use of federal tax incentives to rehabilitate historic buildings. The National Park Service’s annual report on fiscal year 2006 lists Virginia with 114 proposed federal tax-credit projects, second only to Missouri, and 109 completed projects, behind Ohio.
Total private investment in Virginia leveraged through rehabilitation projects completed and certified by the Park Service during fiscal year 2006 was more than $172 million. That is $43 million more than the previous year, and places Virginia fifth in the nation among states for dollars leveraged, according to a statement released by the Governor’s office.
Said Kathleen S. Kilpatrick, Director of the Department of Historic Resources: “Reusing historic buildings is good preservation, good economic opportunity.”