Ohio Governor Mike DeWine, Lt. Governor Jim Tressel, and Ohio Department of Development Director Lydia Mihalik on Wednesday announced more than $66 million in tax credits to support the preservation and revitalization of dozens of historic buildings throughout the state, including Urbana and Marysville.
The awards are a part of the Historic Preservation Tax Credit Program, which encourages private investment in the rehabilitation of historic structures by providing financial incentives for their redevelopment.
“As Ohio’s cities and neighborhoods continue to grow and modernize, it’s essential that we honor and preserve the legacy that already exists,” said Governor DeWine. “These buildings are more than brick and mortar—they reflect the history of our communities and the generations of the past. Thanks to these tax credits, these buildings will contribute to Ohio’s future as well.”
In total, 39 projects will be awarded $66,145,922 in tax credits to preserve 47 buildings across the state. The projects are expected to leverage approximately $518 million in private investments.
“Many of the structures that will be renovated through this program are currently vacant and underused, but they all hold so much potential,” said Lt. Governor Tressel. “As these buildings are turned into homes, businesses, offices, and manufacturing facilities, these sites will most certainly spark additional investment and revitalization in the surrounding areas.”
“Historic buildings tell Ohio’s story – with these tax credits, we’re writing the next chapter,” said Lydia Mihalik, director of the Department of Development. “Through the Ohio Historic Preservation Tax Credit Program, we’re preserving what makes Ohio’s communities unique while supporting modern needs like housing, small business, and the arts.”
The awarded projects span 13 communities, including Akron, Canton, Cincinnati, Cleveland, Dayton, Logan, Toledo, Urbana, and Warren. Massillon, Marysville, Norwalk, and Trotwood are all new to the program this round. Developers are only issued the tax credit once project 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.
