This is one of the reasons I got involved with Historic Preservation…

“The top priorities for economic development efforts are creating jobs and increasing local household income. The rehabilitation of older and historic buildings is particularly potent in this regard. As a rule of thumb, new construction will be half materials and half labor. Rehabilitation, on the other hand, will be sixty to seventy percent labor with the balance being materials. This labor intensity affects a local economy on two levels. First, we buy an HVAC system from Ohio and lumber from Idaho, but we buy the services of the plumber, the electrician, and the carpenter from across the street. Further, once we hang the drywall, the drywall doesn’t spend any more money. But the plumber gets a hair cut on the way home, buys groceries, and joins the YMCA – each recirculating that paycheck within the community.”

From a speech by Donovan Rypkema at the 2005 National Trust Conference