Page 29 - State College, PA Design Guidelines

• 06.28.2018

ECONOMIC COMPONENT OF

SUSTAINABILITY

The economic benefits of protecting local historic districts are
well documented across the nation. These include higher property values, job
creation in rehabilitation industries, and increased heritage tourism. Examples
also exist of ways in which the quality of life is enhanced by living in historic
areas, and that these in turn help to recruit desirable businesses to the
community at large.

Historic Rehabilitation Projects
ECONOMIC BENEFITS
Direct and indirect economic benefits accrue from a rehabilitation project. OF REHABILITATION
Direct benefits result from the actual purchases of labor and materials, while AND HERITAGE TOURISM
material manufacture and transport results in indirect benefits. Preservation For more information about the
projects are generally more labor intensive, with up to 70% of the total economic benefits of rehabilitation
project budget being spent on labor, as opposed to 50% when compared to project, review Measuring Economic
new construction. All of these purchases of labor and materials add dollars Impacts of Historic Preservation: A
to the local economy. Furthermore, a rehabilitation project will provide Report to the Advisory Council on
functional, distinctive, and affordable space for new and existing small Historic Preservation, written by
businesses. This is especially relevant to the local economy where many local PlaceEconomics. A hardcopy of the
businesses operate in historic buildings. report is available in the Planning
Department.

Heritage Tourism
The National Trust for Historic Preservation defines cultural heritage
tourism as, “traveling to experience the places, artifacts, and activities that
authentically represent the stories and people of the past and present. It
includes cultural, historic, and natural resources.” Heritage tourism is another
benefit of investment in historic preservation, as people are attracted to the
cultural heritage sites within the area. Historic resources provide visitors
with a glimpse into State College’s heritage. Heritage tourists spend more on
travel than other tourists, which generates jobs in hotels, bed and breakfasts,
motels, retail stores, restaurants and other service businesses.

CHAPTER 2 • HISTORIC PRESERVATION AND PROJECT PLANNING • INFORMATIONAL 23