Newsletter, Past Present Future - a publication of the Las Vegas Historic Preservation Commission, March 1995

Past Present Future A publication of the Las Vegas Historic Preservation Commission /N TH/5 /SSU£ MOULIN ROUSE STILL AL I V E BLACK HISTORY H A L L OF FANE I • ECONOMIC BENEFITS OF HISTORIC PRESERVATION I • NEON STATEWIDE NEWS l/o/.Z SIvr-crA Economic Benefits of Historic Preservation Dollar for dollar, historic preservation is one of the highest job-generating economic develop-ment options available. Peal economic develop-ment is about creating jobs, and historic preser-vation creates jobs. Historic preservation is ex-tremely labor intensive. As a rough rule of thumb, half of new construction expenditures go for la-bor and half for materials. In a typical historic rehabilitation project, between (0 and 10 per-cent of the total cost goes toward labor. This has a very practical effect on the local economy. Laboi— carpenters, electricians, plumbers, sheet metal workers, painters- is nearly always hired locally. And those individuals, in turn, spend their wages locally-at the barber sh