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Ohio Gov. Mike DeWine, Lt. Gov. Jon Husted and Ohio Department of Development Director Lydia Mihalik announced Dec. 11 more than $56 million in tax credits to support the rehabilitation of historic buildings across the state.

The credits were awarded as part of the Ohio Historic Preservation Tax Credit Program, which provides financial incentives for the private redevelopment of Ohio's historic buildings.

"By preserving our historic buildings, we're retaining the unique identity of Ohio's communities," said DeWine. "Through the tax credit program, we're ensuring that future generations can experience the character and stories that shaped our state in the spaces where they happened."

In total, 37 projects will be awarded $56,125,248 in tax credits to preserve 42 buildings across the state. The projects are expected to leverage approximately $715 million in private investments.

"Historic preservation is an economic driver in Ohio communities — it's more than just saving old buildings," said Husted. "We're preserving Ohio's history while investing in its future through this program."

Among the 15 communities receiving tax credits are Akron, Barberton, Cincinnati, Cleveland, Columbus, Cuyahoga Heights, Dayton, Hamilton, Marion, Middletown, Niles, Steubenville, Toledo, Wellington and Youngstown.

Tax credits will assist in preserving historic buildings which are often vacant and generate little economic activity. The buildings will be rehabilitated into residential housing, commercial and office space and manufacturing facilities. Once rehabilitated, they will drive further investment and interest in adjacent property. Developers are only issued the tax credit once project construction is complete, and all program requirements are verified.

"Communities thrive where they honor their roots," said Mihalik. "The awards we are making through the Ohio Historic Preservation Tax Credit Program are helping communities in their efforts to connect their past with opportunities of the future."

The Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection's State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior's Standards for Rehabilitation.

"Rehabilitation of historic buildings through the historic program and federal historic tax-credit programs revitalizes main streets, helps the environment by reusing a structure that is already built and creates jobs – with the added bonus of preserving local history," said Mariangela Pfister, department head and deputy state historic preservation officer of technical preservation services in the Ohio History Connection's state historic preservation office.

The Ohio Department of Development empowers communities to succeed by investing in Ohio's people, places and businesses.

For more information, visit development.ohio.gov.

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