For Release March 29, 2005

Economic Impact Study Shows LCHIP Historic Preservation Grants Create Jobs, Stimulate 1:13 Return

The New Hampshire Preservation Alliance will share findings with the House Finance Committee today from a new report that shows the economic impact of Land and Community Heritage Investment Program's historic preservation grants go far beyond the matching funds leveraged by the state grants.

The study by New Hampshire economist Brian Gottlob of PolEcon Research shows that LCHIP historic preservation grants produce impressive economic benefits because of LCHIP's matching grant design and because historic preservation investments are labor and materials intensive. Here are two findings:

· Each dollar the state has invested in rehabilitating historic buildings has produced $13 of economic impacts, even when the net tax costs of the program are considered.

· The $5.8 million in historic preservation grants to date has generated 606 jobs (primarily well-paying jobs in the construction and related trade industry) and $41.7 million in sales for our state. Historic preservation projects employ local people and use nearby businesses so funds stay within in the region.

"The letter 'I' in LCHIP stands for 'Investment,'" said Jennifer Goodman, executive director of the New Hampshire Preservation Alliance. "Gottlob's findings show LCHIP's impressive return on investment for the State of New Hampshire and its taxpayers."

The study was commissioned by the New Hampshire Preservation Alliance, and funded by the New Hampshire Charitable Foundation. To date, the Land and Community Heritage Investment Program has funded 112 land conservation and historic preservation projects to protect significant farmland, forest land, water supply lands and other open spaces and to save and revitalize important historic landmarks.

The New Hampshire Preservation Alliance is the statewide nonprofit organization dedicated to the preservation of historic buildings, communities and landscapes through leadership, education and advocacy. Helping community groups advance local preservation projects and promoting funding for the Land and Community Heritage Investment Program, barn preservation, and the use of easements are its current priorities. For more information, contact the Alliance at (603) 224-2281 or www.nhpreservation.org.

Download a copy of the Executive Summary of the Report, as well as the New Hampshire Preservation Alliance's Framework for Preserving Community Character in Adobe PDF format.