Rehabilitation of an existing building-rehabilitation is economically sustainable. comparing spending 1 million on rehab to one million in new construction:
-5-9 more construction jobs will be created with rehab
-4.7 more jobs will be created elsewhere with rehab
rhonda sincavage with the national trust explains that, working on historic buildings is more labor intensive than new construction and therefore comparably creates more jobs. and, if a greater percentage of money is going toward labor instead of materials, that means more dollars stay in the local economy. the economic impacts dont stop with the completion of a single project. think about a place you know an anchor project may likely have sparked the reinvestment, but chances are, there were several projects that contributed to revitalization of an area. what about when these projects are completed? historic buildings attract small business. since commercial rents tend to be more affordable in older and historic buildings, historic preservation acts as a natural incubator for small and start-up businesses, which currently are the biggest sector for job growth.