| Summary |
The purpose of this thesis is to examine an example of historic preservation in New Bern to see if preservation has any economic benefits, and if so, how these benefits can help revitalize a city. A study of New Bern should suggest whether or not a strong effort on the part of the town to preserve historic buildings is directly related to increased prosperity. A short history of preservation in New Bern includes a discussion of the roles of the New Bern Preservation Foundation, Swiss Bear, the Historical Society, and the Historic District Commission. A number of other factors are examined such as the restoration of historic homes in the historic district and how this has helped increase the tax base for the city, the role of tax credits in New Bern, and the role of preservation in drawing tourists to New Bern. The information uncovered through this study shows that historic preservation has had a positive economic impact on The city and business leaders understood the importance of New Bern's historic features when they based New Bern. New Bern's revitalization effort on expanding the tourist trade using the city's assets - its strong historic character and undeveloped waterfront. The restoration of homes in the historic district has helped increase the tax base of the city greatly. The value of the fifty-seven homes in the historic district that had been restored since 1970 increased from $790,276 in 1970 to $6,115,968 in 1986. This represents an increase in value of a little over 770 percent over the sixteen-year time period. Many buildings in the central business district have been renovated. Major renovation work on forty historic buildings has been completed, representing an investment of over $17.5 million. In the period from 1981-1986 a total of $23,200,000 had been invested in new investments and in building rehabilitation projects and new downtown construction in the central business district. Of this total, $5,800,000 came from building renovations. The rehabilitation of buildings in the commercial district has also contributed to the increase to the tax base of the city. Tourism is another area in which historic preservation plays a major role in New Bern. Tourism brought in $50.45 million in 1989 as well as providing 920 jobs with a payroll of $11.91 million. Around 80,000 people visit New Bern each year with Tryon Palace being the biggest draw. Attendance for the Tryon Palace Complex in 1991 totaled 74,615. When all of these factors are examined together one compelling conclusion clearly stands out: historic preservation has been instrumental in the economic growth of New Bern. |
