“The Economic Power of Restoration"

For this week, I read “The Economic Power of Restoration.” The authors state that for every million dollars spent in building rehabilitation, more jobs are created and more income goes to the citizens’ households than for every million dollars spent in manufacturing. This result is due to the fact that building rehabilitation involves greater labor intensity than manufacturing. In addition, rehabilitation spurs heritage tourism. Terrorists who visit because of historical sites tend to spend more time and money in these cities.

Another major aspect to rehabilitation is its ability to revitalize downtown areas. For the last fifty years, there has been a departure from the cities to the suburbs, which has created major negative economic, social and political problems. Downtowns are beginning to turn around and historical preservation has always played a major role. Stable residential neighborhoods are essential for revitalizing downtowns, and rehabilitation is key to creating this stability.

For the future, rehabilitation has five major roles to play: 1) dealing with a globalized economy, 2) preventing a globalized culture, 3) building communities, 4) protecting the environment, and 5) being a vehicle of fiscal responsibility.

Bluebook:
Donovan D. Rypkema, The Economic Power of Restoration, Address Before the Restoration & Renovation Conference (Jan. 15, 2001) (transcript available at http://www.wisconsinhistory.org/hp/smartgrowth/economic_power_of_restoration.pdf).

David Jackson