Economic Benefits:

As a result of such legislative initiatives, preservation
activities have come to represent a significant economic force in
the United States, as demonstrated by the following points:

- In a four year period (1982-1985), historic preservation
investments under the Tax Act of 1981 accounted for approximately
$8 billion in rehabilitation investment, $6 billion in local
salaries generated, $17.2 billion in local sales and general
business generated, and 342,860 person years of employment;
(National Trust for Historic Preservation, 1986)

- Every $100,000 spent on historic preservation results in over
$250,000 in retail sales and $74,000 in new earnings; Advisory
Council on Historic Preservation, 1985)

- More than 50% of annual construction expenditures in the U.S.
are for rehabilitation of existing structures; (American
Institute of Architects, 1986)

- As a result of the Tax Reform Act of 1986, historic
preservation represents one of the few remaining areas for
investment tax credits, an acknowledgment of the critical
importance of historic preservation to the socioeconomic agenda
in the U.S.; (Stipe and Lee, 1987)

- It is estimated that up to $300 million is spent annually on
archaeological activities alone by federal agencies, recipients
of federal assistance, and regulated industries for compliance
with Section 106 of the NHPA. (Stipe and Lee, 1987)

<bfile13>   National Historic Preservation Act
<bfile15>   Assessments of Preservation Today
<afile12>   Premise:  A Basis for Action