The agenda is critical to make historic preservation one of the state’s primary economic development strategies that can create jobs, generate income, stimulate tax revenue, nurture tourism and enhance older cities. The economic force that historic preservation adds to New Jersey’s economy is documented in Partners in Prosperity: the Economic Impact of Historic Preservation in New Jersey.
These five initiatives have the potential to produce millions of dollars in private investment and state revenue, which preserving the heritage that makes New Jersey and its communities special place in which to live:
- New Jersey Community Reinvestment Act: Adopt a state tax incentive to stimulate private investment in historic buildings and communities and use private investment as a catalyst for revitalizing New Jersey’s cities and towns.
- State Heritage Tourism Development Strategy: Create a state road-map to capitalize on the growing heritage tourism market.
- State Redevelopment Law Revision: Amend the state’s redevelopment law to require local governments to incorporate historic preservation into the redevelopment planning process and make New Jersey’s “smart growth” even smarter.
- User-Friendly Historic Asset Inventory: Develop a user-friendly inventory of New Jersey’s most valuable historic assets to inform and expedite public and private development decision-making.
- Garden State Historic Preservation Trust Fund Renewal: Extend this landmark fund for another decade to ensure the preservation of New Jersey’s rural landscapes and sensitive environmental resources and the preservation and enhancement of its historic assets and communities.