Economic Benefits of Historic Preservation

What is the impact of historic preservation in Colorado and what economic effect does it have in communities across the state? These were just two of the questions Colorado Preservation, Inc and its partners hoped to address through the report, Preservation for a Changing Colorado.

The 2017 study looked at the ways adaption of historic places has a direct financial benefit locally and statewide. This updated, most resent study, was the result of a partnership between Colorado Preservation, Inc and History Colorado funded by History Colorado’s State Historical Fund. Prepared by Clarion Associates, the new report documents the economic benefits of rehabilitation projects, analyzes property values and neighborhood stability in local historic districts, and summarizes the increasing impact of heritage tourism, private preservation development and the success of Colorado’s Main Street program.

In a key finding, researchers found that for every $1 million spent on historic preservation in Colorado produced $1.03 million in additional spending, 14 new jobs, and $636,700 in increased household incomes across the state.

The 2017 report considers the important indirect role preservation plays in helping Coloradans create and sustain meaningful places, while providing new spaces for creative communities and co-working spaces in addition to responding to the state’s changing demographics, and addressing climate concerns. This information is critical for state and local leaders as well as local advocates and private property owners.

The full report may be read above or downloaded Here.