Something old is something new: The role of heritage preservation in economic development

Abstract

Heritage preservation has been gaining considerable momentum as a way to contribute to local economic development. This paper examines how it has led to economic growth in Canada and has strengthened communities in small towns and big cities. The author argues that preserving heritage buildings and artifacts can play a key role in promoting local economic development as it has the ability to create jobs, increase property value, generate added tax revenues, act as a catalyst for new industry development, provide space for new business attraction and create added value for a community through an improved quality of life.

Keywords: heritage preservation, local economic development, community development