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Presentation: Economic Impact of Historic Preservation

For Immediate Release
June 20, 2013
Mary Alice Hobbs, contact
Brigham City Museum of Art and History
(435) 226-1439
Results of study to determine economic impact of historic preservation in Utah
 Wednesday, June 26, 2013
Brigham City Museum of Art and History
6 p.m.
         The results of a study to determine the economic impact of historic preservation in Utah will be presented Wednesday, June 26, 2013, at 6 p.m. at the Brigham City Museum of Art and History. The event is free, and the public is invited. No RSVP is required. The museum is located at 24 North 300 West. The entrance is on the west side.
            The speaker will be Donovan Rypkema, principal of Washington, D.C.-based PlaceEconomics that was engaged by the Utah Heritage Foundation (UHF) last year to conduct the study. It addresses how historic preservation contributes to job creation, building property values, revitalizing downtowns, leveraging private investment and building heritage tourism. Historic preservation also contributes fiscally to responsible and sustainable development.
            Among the important findings of the study is that Utah benefited by more than $1 billion: $717,811,000 in direct and indirect spending by visitors to Utah heritage sites and special events and $35,455,268 in investment that stayed in Utah rather then sent to Washington because of projects that utilized the Federal Rehabilitation Tax Credit.
            According to UHF Executive Director Kirk Huffaker, “Our goal is to determine the direct and indirect benefits of historic preservation in Utah. We think the study hit the mark and the findings will be very interesting to individuals who are concerned with preservation’s impact.”
            Utah Heritage Foundation issued a request for proposals last fall, and a steering committee of partners in the study selected PlaceEconomics to conduct the study. PlaceEconomics specializes in services to public and non-profit sector clients who are dealing with downtown and neighborhood commercial district revitalization and the reuse of historic structures. Rypkema led the team of researchers.
            The study was funded in part by the Cedar City Brian Head Tourism Bureau, George S. and Dolores Dore Eccles Foundation, National Trust for Historic Preservation, Salt Lake City Corporation, Southern Utah University Regional Services, Utah Division of State History, Utah State Parks, Utah Transit Authority and Zions Bank.
            Established in 1966, the Utah Heritage Foundation was the first statewide preservation organization in the western United States. It is a non-profit, statewide, membership-based organization dedicated to preserving, protecting and promoting Utah’s historic built environment through public awareness, advocacy and active preservation.