The time to act is right now! As we have been expecting, the House Ways and Means Committee has removed historic tax credits, during the tax reform process.
We are in a national campaign to Save Historic Tax Credits. Everyone who has used these credits or benefited from these credits needs to act now.
We realize the importance of national tax reform. But we also think the tax credits that work for American communities, which have proven to provide a positive return should be retained.
In Ohio the impact of historic tax credits has been truly phenomenal.
In Ohio 1976-2016 there have been 1,898 completed projects = Total Investment $4,091,824,967
In Ohio 2012-2016 Total Rehabilitation Costs $1,392 billion
In Ohio 2012-2016 historic tax credit projects created 24,616 Jobs
The risk is assumed 100% by the private sector, the credit is not taken until 100% certified completion.
We have seen spectacular results in Ohio’s small towns: Chillicothe to Painesville, mid-sized towns Hamilton to Canton, and the biggest cities: Cincinnati to Cleveland economies have been transformed by historic tax credits.
- Your congressman
- Senator Rob Portman
- Congressmen Tiberi and Renacci, members of House Ways and Means Committee
Ask them to put Historic Tax Credits back in, tell your story, tell what you’ve seen and experienced, let them know this is a vital tool for Ohio. It allows Ohio communities to compete with coast for talent, and investments.
Share this with everyone on your team and with other community members.
To be successful we need full participation.
A good resource for more complex questions is the NTCIC Historic Tax Credit Coalition