The American Tobacco Campus in Durham, NC. In 2004, the Capital Broadcasting Company invested over $200 million to renovate this campus and to turn it into a premier entertainment, office and residential complex.
In 2014 the North Carolina General Assembly chose not to renew the state’s Historic Preservation Tax Credit and on December 31 it expired. These tax credits have been imperative to the conservation of over historic property in 90 out of 100 North Carolina counties and our state and our communities need them reinstated.
Since 1998, the tax credit has helped save historic buildings and properties all across the state. Over $1.5 billion has been invested to help save farms, homes, buildings, hospitals and storefronts. The tax credit not only helps to save and preserve our local buildings, but also helps to enhance our communities and bring jobs to our local friends and family.
Governor Pat McCrory, Cultural Resources Secretary Susan Kluttz, the North Carolina Metropolitan Mayors Coalition along with the Real Estate Building & Industry Coalition (REBIC) and the North Carolina Association of Realtors (NCAR) have created a coalition to bring awareness to this need and to implore our state legislature to reinstate the Historic Preservation Tax Credit.
We need your help! Please visit historictaxcredits.org to sign a petition requesting the General Assembly restore the program and to learn more.