Historic Savannah Foundation, a leading preservation organization committed to preserving and protecting Savannah’s heritage, recently presented results from a report it commissioned to examine ways historic preservation plays a positive role in the local community. The survey, which was conducted by consulting firm PlaceEconomics, showed the positive impact historic preservation has on job creation, an improved tax base and stable property values.

Key findings from the report include:

 ● Savannah’s historic districts comprise 8 percent of the city’s land area, 15 percent of its buildings, 16 percent of its population, 24 percent of its taxable value and 31 percent of its jobs.
● Work done using the federal historic tax credit has meant an average of 169 jobs and $7.5 million in labor income each year over the last 15 years.
● Property values in Savannah’s historic districts have outperformed the city as a whole; every Savannah historic district had lower rates of foreclosure during the recent nationwide real estate chaos.
● The aforementioned “preservation premium” provides nearly $10 million dollars each year to the City of Savannah, Chatham County, and the local school district.
● The measurable economic benefits of historic preservation are not just apparent in Savannah but significant on Tybee Island as well, particularly in its Main Street district.
                                                                                                                                         
“Preservation is the kind of industry that should be strongly supported by the government and business sectors of Savannah. It’s no different from manufacturing, military or the port,” said Daniel Carey, president and CEO of Historic Savannah Foundation. “Preservation is a leading reason why Savannah is the successful city it is. Our very identity is based on preservation. The bottom line is: preservation means business.”    
 
The preservation economic impact study used data from the City of Savannah, City of Tybee Island, Chatham County, Historic Savannah Foundation, Savannah College of Art and Design, state and federal databases, online research platforms, on-site tours, and in-person and phone interviews. Funding for the report was provided by National Trust for Historic Preservation, The Richard and Julia Moe Fund, Historic Savannah Foundation and the City of Tybee Island.