NTCIC RELEASES SECOND ANNUAL TAX CREDIT REPORT

This week the National Trust Community Investment Corporation released its second annual report on the economic impact of the historic tax credit. The study conducted by Rutgers University examined the historical and current application of the federal historic tax credit; presents quantitative and qualitative information regarding the economic and other benefits of the federal HTC; and explores ways in which the current federal HTC can be more flexibly applied in the future. The report highlights that the rehabilitation tax credit continues to generate jobs and economic development. Among the findings is that since 1976, two million jobs have been created with 145,000 being created in the past two years. The program also generated a total of $2.2 billion in federal, state, and local taxes. For a copy of the complete report, click here.