Historic Preservation = Economic Development
The cumulative success of the Main Street Approach® and Main Street programs on the local level have earned Main Street the reputation as one of the most powerful economic revitalization tools in the nation. The National Main Street Center conducts research to document this by annually collecting statistical information on the preservation, revitalization, and economic activities in local Main Street programs throughout the country.
This past year the Pikeville Main Street program made tremendous progress earning Kentucky and National Main Street Accredited status propelling our community into a progressive and bright future with the creation of five new businesses and an investment of $77,355,000.
Main Street is not only a community vibrancy tool - it is a leading economic development program.
We work diligently to create a vibrant and prosperous downtown. Main Street is sustained through public and private partnerships and investment along with technical assistance from the Kentucky Heritage Council.
There are many reasons for revitalizing downtown, but once the process has begun communities note positive changes such as:
The cumulative success of the Main Street Approach® and Main Street programs on the local level have earned Main Street the reputation as one of the most powerful economic revitalization tools in the nation. The National Main Street Center conducts research to document this by annually collecting statistical information on the preservation, revitalization, and economic activities in local Main Street programs throughout the country.
Cumulative Reinvestment Statistics
Dollars Reinvested*: $70.25 billion
Buildings Rehabilitated: 268,053
Net Gain in Jobs: 584,422
Net Gain in Businesses: 132,092
Reinvestment Ratio**: $32.56: $1
These estimates are based on cumulative statistics gathered from 1980 to December 31, 2016, for all designated Main Street communities nationwide.
In 2016, 39 participating Kentucky Main Street programs reported $109,741,515 of total investment in these communities. This number includes $75,070,029 of private investment matched by $30,920,494 in public improvements, supported by nearly 100,000 volunteer hours committed by KYMS board members and supporters. Statewide, the program also generated:
