Pomona, CA -- (ReleaseWire) -- 05/05/2014 -- The rehabilitation, restoration, and preservation of historic residential and commercial buildings all throughout the United States has brought a positive effect on the country’s economy according to a study conducted by Virginia Commonwealth University (VCU). The benefits of bringing old buildings back to life ripples across the economy and through local communities, contributing tens of billions of dollars to the country’s economic health. Moreover, the rehabilitation expenses have also created a lot of full and part-time jobs for local residents throughout the country, generating millions of dollars in state and local tax revenues.
These are just a few findings of an economic impact study commissioned by Preservation Virginia, with a grant from Mead Westvaco and support from various departments of historic resources from different states throughout the country. With data provided by the Virginia Department of Historic Resources, the study makes use of data from 1997 to 2013, working on 16 years of figures, facts, and statistics.
“The cultural benefits of preservation and passing forward our historic legacies are well known,” said Elizabeth Kostelny, executive director of Preservation Virginia. “The study confirms that historic preservation also provides profound economic benefits, and it begins with the incentives provided by state and federal tax credits. We commissioned this study to raise awareness that economically historic preservation is a win-win proposition for all individuals, not just preservationists. The study is part of our year-long celebration that examines the role and contributions of historic preservation in the country,” she added.
Many historic preservation companies all over the US work hand in hand to contribute to the economic growth brought by restoration and rehabilitation of historical structures. For one, Spectra Company, a historic preservation company based in Los Angeles, California, has committed to protect and preserve the country’s most cherished architectural, historic, and cultural landmarks.
“Historic structures enhance our lives by establishing a sense of personal history, while defining the character of our individual communities. Our goal is to revitalize and preserve our heritage for generations to come. Spectra Company is committed to preservation as a viable path to sustainability, and utilizes environmentally safe products in all its preservation and restoration practices,” the head of the company shares.
“We offer diverse expertise, strong technical knowledge, and expert consultation. We value our staff, crews and customers, and realize that people are the key to our success,” he adds.
For more information about Spectra Company and its historic preservation services, visit http://spectracompany.com.