Ohio officials announced state support for dozens of historic restoration projects that will encourage continued economic growth in the state.
As part of the Ohio Historic Preservation Tax Credit Program, 33 projects will be awarded more than $75 million in tax credits to preserve 45 buildings across the state. Officials said the projects are expected to leverage roughly $681 million in private investments.
The awarded projects span 14 communities, including Akron, Bowling Green, Canton, Cincinnati, Cleveland, Columbus, Dayton, Lakewood, Marysville, Mount Sterling, Springfield, Toledo, Trotwood, and Wadsworth. The communities of Bowling Green, Mount Sterling, and Wadsworth are receiving tax credits through his program for the first time.
Many of the buildings slated for renovation are currently vacant and underutilized.
With support from the tax credit program, they will be transformed into residential units, commercial and office spaces, and manufacturing facilities. Tax credits are only issued after construction is complete and all program requirements are verified.
The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.
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