Missouri Historic Revitalization Alliance
Aligns various supporters of the Missouri Historic Tax Credit under the common mission of protecting it
Since 1998, The Missouri Historic Tax Credit Program has done a world of good for Missourians. Have you noticed revitalization on a main street or a downtown in Missouri in the past 15 years?
You can thank MOHTCs
- 43,000 jobs created, more jobs than by any other economic development tool in the state’s history
- $1 billion boost to Missouri’s economy every year
- Critical revitalization of formerly unproductive downtowns in rural and urban communities
- Invited people to work and play where infrastructure and amenities already exist
- A major increase to the state tax base
- Raised Revenue: For every $1 issued through the credit $1.50 returned in state and local taxes
- The only widespread economic development tool that the state has to offer
What would a reduction in the cap for the Missouri Historic Tax Credit do?
- A cut would slow growth at a time Missouri is just gaining post-recession $$ steam
- Halt redevelopment projects in rural and urban communities throughout the state
- Homeowners and developers are less likely to proceed with projects under a lowered cap
- Diminish economic feasibility of many redevelopment projects
- Reduce sales and property tax revenue potential
- Remove the incentive to develop and transform vacant buildings
- Lower property values
Figures from: Evaluation for Missouri Growth Association. Coffin, Sarah L, Ph.D., McCall, Ben, and Ryan, Rob, MAUA, Saint Louis University, 2010.