What would increasing the rate of West Virginia’s historic rehabilitation tax credit do for the state’s economy?
In January and February the Abandoned Properties Coalition will host a series of forums around the state to discuss exactly that.
Neighboring states, including Pennsylvania, Ohio and Virginia, all have 25% historic rehabilitation tax credits. Since 2002, each of these three states has created more than 44,000 jobs in the redevelopment of historic buildings, generating more than $3 billion in total income for each state.
In the same period, West Virginia’s 10% tax credit has created just 3,529 jobs, and $170 million in total income. Developers choose to invest in neighboring states instead of our downtowns due to West Virginia’s uncompetitive 10% historic rehabilitation tax credit.
If you are interested in sparking the redevelopment of West Virginia’s historic buildings in order to spur private investment, create jobs and provide West Virginia with a positive return on investment, please attend the forum nearest you.
The forums are free, however we do need you to register so we can keep track of numbers.
Thursday, January 19, 3 – 5 p.m.
The Shenandoah Hotel
Wednesday, January 25, 8:30 – 10:30 a.m.
The Stone Center
Thursday, January 26, 1 – 3 p.m.
Wednesday, February 1, 4 – 6 p.m.
The Keith-Albee Theatre
Thursday, February 2, 5 – 7 p.m.
The Art Store
Revitalize West Virginia’s Downtowns is a coalition of economic development professionals, architects, developers, community developers, city officials and historic preservationists that want to increase West Virginia’s income-producing historic tax credit to make downtowns of all sizes desirable places to live and work.
To learn more about the coalition, visit revitalizewvdowntowns.com/who-we-are/