BURLINGTON — To celebrate the return of the Historic Tax Credits, Governor Pat McCrory has proclaimed Oct. 14 Historic Tax Credit Day at a celebration at the Historic Depot in Burlington.
“The Historic Tax Credit is a tool with a proven track record of creating jobs and renewing main streets all across North Carolina,” McCrory said. “The Historic Tax credit not only preserves our past, it helps build our economic future.”
N.C. Department of Natural and Cultural Resources Secretary Susan Kluttz, State Representative Steve Ross and Burlington Mayor Ronnie Wall joined McCrory in a short presentation and reading of the proclamation.
“Historic Tax Credits bring jobs and economic development to rural towns and big cities across North Carolina,” said Kluttz. “The rebirth of one abandoned downtown building has a ripple effect throughout a community and often sparks a renaissance of development in nearby structures. In addition, these historic buildings and mills are an emotional tie to our heritage and exemplify what makes North Carolina unique. These credits are critical for North Carolina’s economic recovery and I am thrilled they have been restored.”
Historic tax credits were used by business and homeowners who owned historic properties listed in the National Register of Historic Places to preserve their buildings within defined guidelines. Used in 90 out of N.C.’s 100 counties, in both rural and urban areas, these historic tax credits boosted local economies and created jobs, while preserving communities’ historic cores and our state’s priceless historic character.
Since 1998, more than 2,400 historic tax credit projects have been completed statewide bringing more than $1.6 billion of private investment into North Carolina communities. North Carolina’s historic tax credit program ended on Dec. 31, 2014.