Summary Report: Profits through Preservation, the Economic Impact of Historic Preservation in Utah

PlaceEconomics

Introduction: "Utah is well known for having one of the strongest, most stable economies in the country. There are multiple reasons for this: a well-educated workforce, economic diversity, fiscally responsible state and local governments, and substantial year-in, year-out production from the agriculture, natural resources, high-tech, and tourism sectors. Utahns are rightfully proud of their state’s economy. They are also proud of the depth and breadth of the heritage resources found throughout the state’s 29 counties. Temple Square in Salt Lake City, the vibrant business district on 25th Street in Ogden, the Stagecoach Inn at Camp Floyd, and the Jens Nielson House in Bluff may not seem t o have much in common. Some are owned by an institution, some by the private sector, and some by government. Some are grand in scale; some are modest. But they have one thing in common – each is a physical representation of the history of Utah. But “economy” and “historic preservation” do not often appear in the same sentence. The citizens of Utah have been good stewards of historic buildings for their cultural, aesthetic, social, symbolic, religious, and educational values. And that is as it should be. Those “values” of the built heritage may well be beyond measure. However some of the values of historic preservation can be measured and those are the economic ones. This report looks at the quantitative impact of historic preservation in six areas: jobs and income, sustainability, downtown revitalization, heritage tourism, property values, and fiscal responsibility. As the data on the following pages demonstrates, Utahns can also be proud of the contributions of historic preservation makes to the state’s economy." Project funding was provided in part by a 2013 Historic Preservation Fund grant to the Utah Heritage Foundation (project number UT-13-002) administered by the Utah State Historic Preservation Office (grant number P13AF00160) and the State, Tribal, and Local Plans and Grants Division, National Park Service, U.S. Department of the Interior.

Summary Report: Profits through Preservation, the Economic Impact of Historic Preservation in Utah

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