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Agency Department of Historic Resources (423)
Measure Name Amount of private investment (in millions of dollars) leveraged rehabilitation tax credits to reuse historic buildings and stimulate local economies
Measure Last Modified
09-04-2024 02:35 p.m.
Measure Last Published
09-05-2023 02:22 p.m.
Status
Active
Data Source and Calculation
<p>Agency records on the monetary value of rehabilitation projects leveraged by state and federal rehabilitation tax credits and certified through Department of Historic Resources assistance as meeting Secretary of Interior Standards. The measure indicates both the impact of the Virginia tax credits and the overall contribution of this program to historic preservation and economic development. Results are shaped by economic factors above and beyond the effectiveness of agency educational and technical assistance efforts. Both the number and dollars leveraged through state and federal tax credits remain the best measures of the impact that this program has both on significant historic resources and on economic development. Targets are projected from the estimated costs of projects "in the pipeline" for which property owners and developers have already submitted plans. </p>
Enterprise Priorities and Strategies
Initiative Priority Strategy
Economy Business Climate and Economic Development Promote Virginia’s competitive business climate to maintain the designation as the best state for business.
Associated Service Areas
Service Area Code Service Area Name
50205 Historic Resource Management
Targets and Baselines
Name Date Result Note
Baseline None
Short Target 2025 None
Long Target 2027 None None
Results
Year Result Note
2002 123.00
2003 132.00
2004 147.00
2005 205.00
2006 285.00
2007 287.00
2008 331.00
2009 535.00
2010 273.00 Post 2009 declines reflect the impact of economic uncertainties on new projects that started to affect the total number and size of projects beginning in 2007.
2011 225.19
2012 249.71
2013 241.25
2014 223.25
2015 366.98
2016 358.09
2017 302.28
2018 397.54
2019 261.84
2020 325.14
2021 339.00
2022 264.00
2023
Measure ID 42350205.002.002
Measure Class Other Agency
Measure Type Outcome
Year Type State FY
Preferred Trend Stable
Frequency Annually
Statistical Unit Dollar Value
sp134 Performance Measure - 08-01-2025 09:00:30