Page 16 - Corvallis, OR Historic Preservation Plan

Historic Preservation Plan

mm Historic Rehabilitation Projects
W% Direct and indirect economic benefits accrue from rehabilitation
- m % projects. Direct impact refers to the actual purchases of labor and

V i'i A materials, while indirect impacts are expenditures associated with the
mi project, such as manufacturing labor and purchases that construction
-S -» workers make in the community. These can be added to create
the “total” impact. Preservation projects are generally more labor
Cl
intensive, with up to 70% of the total project budget being spent on
labor, as opposed to 50% in new construction. This means that more
Harding Building
of the money invested in a project will stay in the local economy
and not be used towards materials and other costs manufactured or
itgi
EARLY CORVALLIS sourced outside the community. Furthermore, a rehabilitation project
Streets and sidewalks
may provide functional, distinctive and affordable space for new
and existing small businesses. This is especially relevant to the local
economy where many local businesses operate in historic structures.

M&m In addition, financial incentives may be available to some rehabilitation
projects, which is often dependent on the structure’s historic
designation status. These incentives can assist in making a rehabilitation
Interpretive Sign project financially feasible.

Heritage Tourism
Heritage tourism is another benefit of investing in historic preservation,
as people are attracted to the cultural heritage sites within the area.
These resources provide visitors a glimpse into Corvallis’s history and
tell of its contribution to state and regional history. Heritage tourism
means traveling to experience the places that authentically represent
the stories and people of the past and present. This includes historic
as well as cultural and natural resources. Heritage tourism supports
employment in hotels, bed and breakfasts, motels, retail stores,
restaurants and other service businesses. Studies show that heritage
tourists spend more dollars on travel than other tourists.

10 City of Corvallis