Heritage Ohio

Heritage Ohio Announces the Renewal

of

Ohio's Historic Tax Credit!

Thank you to the  

Ohio General Assembly, who passed 

Governor Kasich, who signed   

the renewal  

of the  

Ohio Historic Preservation Tax Credit!

 

This important economic tool will revitalize our communities large and small; stimulate the job market; leverage more private investment; and provide growth to state revenues.  

 

Bill Highlights
  • $60 million per year extended in perpetuity
  • Requires Cost Benefit Analysis of applicant projects
  • Permits, rather than requires, ODOD to rescind applicants that have failed to move forward in 18 months time
  • Allows projects to be completed in phases
  • Insurance companies are eligible to use the credit
  • Requires expenditures over $200,000 to be certified by an accountant
  • Allows ODOD and OHPO to charge reasonable fees to administer program

Heritage Ohio commissioned Cleveland State University to research the  Economic Impact of the Ohio Historic Tax Credit, which showed:

 

For every $1 million expended in tax credits by the state will generate:

  • $8 million in construction spending and over 80 construction jobs
  • $32 million in operating impact and almost 300 jobs from operations
  • $40 million in total economic activity  and almost 400 total jobs

Piqua Hotel 

Thank you to Ohio Representatives and Senators who have consistently supported this important legislation.

Special thanks to the Champion of the effort:

Representative Kirk Schuring  

as well as 

  Chair of Conference Committee Representative Ron Amstutz

Chair of Senate Finance Committee Senator Chris Widener 

Thank you to the many individuals, organizations, and communities who contacted their elected representatives, donated funds to the effort, or passed a Resolution in support.

Than

Thank you to the dedicated Government Relations committee of Heritage Ohio:

 

Duane Van Dyke, Chairman
Steve Coon
Gene Krebs

Mary Lovett

Franco Ruffini 
Jonathan Sandvick
Scott Ziance

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