Our View: Extend tax credits, continue preserving Minnesota's history
The debate in St. Paul hasn’t been over whether to extend the tax credits program but for how long
Written By:
News Tribune Editorial Board |
11:00 am, May 12, 2021
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The NorShor Theatre is one of at least 10 historic preservation projects that used state historic tax credits. (2018 file/News Tribune)
The very future of Duluth’s iconic and majestic Historic Old Central High School may depend right now on the same financial boost that at least 10 other historic properties in the city have received since 2010 — before they all were restored and saved.
Minnesota’s Historic Rehabilitation Tax Credit is helping to protect our past and uphold our heritage, one restored old building at a time. The tax credit often provides the funding boost a project needs to become a reality. In its 10 years, the program has helped developers invest $1.9 billion in the state, spurring $3.5 billion of economic activity and supporting 18,660 jobs, according to a 2020 economic impact report prepared by the University of Minnesota.