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In the wake of COVID-19, creating economic growth, good-paying jobs, and vitality in our community has become more important than ever. Since 2010, the bipartisan-supported Minnesota Historic Structure Rehabilitation Tax Credit has served the state in countless ways. The tax credit has generated over $3.5 billion for Minnesota’s economy, created over 18,650 jobs, and generates economic growth in 97% of our state’s industries. In Greater Minnesota in particular, the tax credit has shown large returns, where projects in 2019 generated up to $16 for their communities for every $1 of tax credit invested.
Without intervention, this critical economic development program will end in just a few months. The Minnesota Legislature has the power to act and save a program with a proven track record across our state. If we lose the Historic Structure Rehabilitation Tax Credit, we will lose the resiliency and vitality of our communities, and the opportunity to create the growth we need to sustain ourselves at a critical juncture as communities work to rebuild in the wake of COVID-19.
Get involved at RevitalizeMN.org or contact your state Senator and Representative to tell them to extend Minnesota’s Historic Tax Credit (HF 724/SF 685).