October 2011 Ohio Histore-news header image with image-mapped links to various OHS web pages Link to Ohio Historical Society Enews page, Ohio Histore-news, January 2011 Link to Ohio Historical Society Enews sign-up page, Subscribe Link to Ohio Historical Society Programs page, Programs Link to Ohio Historical Society Get Involved page, Get Involved Link to Ohio Historical Society Exhibits page, Exhibits Link to Ohio Historical Society Calendar page, Events Link to Ohio Historical Society Enews Archive page, Archive Link to Ohio Historical Society Home page, Ohio History

Landing page A photos Preserving Historic Places
State Tax Credit
Proves Popular Incentive

See interactive map of completed projects below.

A 120-year old landmark in the heart of downtown Piqua that had seen better days, the Fort Piqua Hotel has become the spectacular new Piqua Public Library, just one example of the impact that the Ohio Historic Preservation Tax Credit is having in communities throughout Ohio.

Tax Credit Made the Difference
“Rehabilitation has given new life to the Fort Piqua Hotel and to our entire downtown,” says James Oda, director of the Piqua Public Library, now housed in the 1891 building. “Availability of the Ohio Historic Preservation Tax Credit made the difference for this project.” Thirty-six Ohio projects have received final certification under Ohio’s state tax credit initiative that was launched in 2008 and was recently renewed in the State of Ohio 2012/2013 biennium budget. The program, which provides a 25 percent credit on qualified rehabilitation expenditures on historic buildings, is administered by the Ohio Department of Development in partnership with the Ohio Historical Society’s Ohio Historic Preservation Office and the Ohio Department of Taxation. A tax credit is a reduction in the amount of tax owed.

Credit Leverages $427 Million Investment in Historic Properties
Since inception of the program, 118 projects from 28 cities and townships in 27 Ohio counties have been approved for the credit and 36 projects have been completed and certified. The 36 projects total more than $72 million in tax credits and will leverage more than $427 million in overall investment.

As with the long-established federal historic rehabilitation tax credit program, each project is carefully reviewed by Ohio Historic Preservation Office staff to ensure that the structure qualifies as a historic building and that rehabilitation work retains the historic character of the building and complies with the Secretary of the Interior’s Standards for Rehabilitation, a set of standards used nationwide to guide work that’s appropriate for historic buildings. Nearly all of the approved state projects also qualified for the 20 percent federal historic rehabilitation tax credit.

$40 of Economic Activity for Every $1 Invested
Job-creation statistics associated with this program, for both temporary and permanent jobs, are impressive. According to Ohio Department of Development data, the first four rounds of the program are projected to generate $10 billion in total economic activity and create nearly 7,000 jobs annually. Every $1 invested in state historic preservation tax credits will generate $8 of construction spending and $32 of operating impacts, totaling $40 of economic activity. In addition, returning the largely vacant buildings to productive use generates nearly $430 million in new property, income and sales tax revenues for state and local governments.

Learn More
Visit the Ohio Historic Preservation Office web page on Tax Incentives for Historic Preservation to learn more about the state and federal historic preservation tax credit programs. See the new Piqua Public Library in the historic Fort Piqua Hotel during the annual Ohio Historic Preservation Office Awards Luncheon on Saturday, Nov. 12, 2011. Click here or call 614.298.2000 to learn more about the luncheon.

Use the map's scroll bar (on the right) to view images from all projects. Click on a marker to view information on an individual property. Click here to view the map in full screen.

Photo of Fort Piqua Hotel, 116 W. High Street, Piqua. Photo of Andrew Jackson Residence, 277 E. Mill St., Akron. Photo of Seneca Hotel, 361 E. Broad St., Columbus. Photo of Davis-McCrory Building, 236 High St., Hamilton.
Link to the Ohio Historical Society Web Site, The Ohio Historical Society is a nonprofit organization that serves as the state's partner
in preserving and interpreting Ohio's history, archaeology and natural history.