ECONOMIC VALUE OF PRESERVATION Preservation also plays a powerful role in supporting Franklin’s economy and identity. “Heritage tourism is traveling to experience the places, artifacts and activities that authentically represent the stories and people of the past and present.”6 Heritage tourism programs bring together tangible historic resources (like buildings and sites), intangible cultural heritage (like stories and traditions), and the capacity to curate and interpret authentic experiences for visitors. Franklin successfully leverages historic preservation to support robust heritage tourism. Heritage tourism is a strong and growing industry in Franklin and Williamson County and has a significant impact on the local and state economies. Williamson County ranks 6th out of the state’s 95 counties in visitor spending.7 The most recent impact reports show growth in the local tourism industry: Day and overnight visitation to Franklin and Williamson County increased in 2023 over the previous year. Williamson County is also fortunate to have strong repeat visitation with 66.9 percent of visitors making a return trip.8 In addition, visitor spending supports local employment and generates local and state tax revenues. Economic development intersects with many aspects of historic preservation in Franklin, but the heart of this intersection of tourism, preservation, and economic development is historic downtown Franklin. Just as Franklin’s residents readily associate historic and cultural resources as important to the city’s character and quality of life, the same is true of visitors: they are drawn to enjoy the historic downtown, tour historic homes, and take guided tours to learn more about the area’s history and culture. 6 National Trust for Historic Preservation, Heritage Tourism Program, 1990. 7 Data in this section was compiled by Smith Travel Research for the Tennessee Department of Tourist Development. 8 Ibid. 11
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