Ohio's past is securing a future thanks to a substantial investment in historic preservation. Governor Mike DeWine, alongside Lt. Governor Jim Tressel and Ohio Department of Development Director Lydia Mihalik, has unveiled a plan that puts more than $75 million in tax credits into the refurbishment of historic buildings across the state. According to a statement from the Governor's office, this move is expected to catalyze around $681 million in private investments.
This undertaking is part of the Ohio Historic Preservation Tax Credit Program, and it's a clear signal that Ohio values its architectural heritage not just as relics of another era, but as catalysts for modern economic development. In a revelation to the public, Governor DeWine said, "Through this program, we are breathing new life into iconic buildings so they can drive economic growth in Ohio, all while honoring the craftsmanship and character that make our state so special." The funded projects are diverse, dotting 14 different communities, with three – Bowling Green, Mount Sterling, and Wadsworth – receiving tax credits through this program for the first time.
Lt. Governor Tressel has expressed his belief in the symbiotic relationship between preservation and advancement, arguing that such efforts "strengthens local economies and ensures future generations can benefit from the places that have long been at the heart of their communities." With 33 projects receiving aid, the program touches a range of cities from Akron to Toledo, suggesting a widespread commitment to revitalizing Ohio's historic locales.
Aside from the obvious aesthetic and cultural benefits, these preservation efforts serve as an economic boon for the communities involved. The renovation of these 45 buildings is not just about sprucing up old facades, it's projected to generate employment opportunities, kick-start new businesses, and accelerate further investments and rejuvenations within the surrounding neighborhoods. The full list of projects and their respective communities can be found within the Governor’s announcement.
