OFFICIAL SITE OF THE STATE OF NEW JERSEYEconomic incentives
Introduction
Successful preservation programs need adequate funding. The public has multiple levels of tools available to promote historic preservation. Federal and state programs offer tax credits, grants and other economic incentives. Project-specific opportunities include federal and state tax credits and direct funding through grants. Community-wide activities include downtown revitalization programs and heritage tourism.
Federal Historic Preservation Tax Incentives Program
This program encourages private sector investment in rehabilitating and reusing historic properties. This federal income tax credit is administered by the National Park Service and the Internal Revenue Service in partnership with the State Historic Preservation Offices. Since 1976, it has helped offset costs for rehabilitating income producing historic properties.
Federal Rehabilitation Tax Incentives
Learn more about federal tax credit, including how to prepare and submit an application.
State historic preservation tax incentives
On January 7, 2021, Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020 (ERA) into law. This COVID-19 pandemic relief package included a new competitive tax credit for historic preservation. The Historic Property Reinvestment Program funds rehabilitation projects for “transformative” historic resources. This state credit leverages funds from the Federal Historic Preservation Tax Credit Program. It is administered by the New Jersey Economic Development Authority (NJEDA).
Historic Property Reinvestment Program (NJEDA)
View the criteria for participating in this tax credit program and start an online application on NJEDA’s website.
NJEDA Mapping Assistant Tool
Use this ArcGIS Online-based mapping tool to confirm whether your property is eligible for aspects of the program.
Other incentives and benefits
Grants for historic preservation
Funding is critical for successful preservation. Learn about local, state and federal grant opportunities that may be applicable to your historic preservation projects.
Downtown revitalization programs
Learn how historic preservation can play a key role in improving downtown business districts.
Heritage tourism
New Jersey has always played a pivotal role in our nation’s history. Find out how tourism based around this history benefits the state and its communities.