The economic impact of these projects has also been nothing short of spectacular. Reports by the Abell Foundation and others have consistently shown a remarkable 8 to 1 return on investment for Maryland taxpayers and nearly 90 jobs created for every $1 million in rehab work. As a result, the program has quietly created nearly 30,000 jobs and yielded almost $3.5 billion in economic activity in just over 20 years of its existence. It has been a wise and fruitful investment for Maryland — not something we can say about every tax credit the state has created. It has also saved and revitalized important architectural landmarks in Baltimore, such as 10 Light Street, the American Brewery, the mills of the Jones Falls and hundreds more. Elsewhere across the state, the program has also played a major role in revitalizing places like downtown Frederick and more recently Cambridge, where the credit is providing an economic boost to the renaissance of the historic downtown and nearby Phillips Packing Plant.