Supporters say it's a way to preserve history as well as provide a much-needed boost to upstate economy. Senator Kirsten Gillibrand is touting legislation that would expand tax credits to renovate historic buildings. Our Karen Lee has more on what she's proposing.

SYRACUSE, N.Y. -- First opened in 1928, the Landmark Theatre, then known as Loew's State Theatre, was the movie palace during the Depression era. Patrons were greeted by uniformed doormen, ushers and enjoyed not only films, but the opulence of the best architecture and décor the times had to offer.

"This was the place to come and enjoy and celebrate your life," said Paula Deckman, Landmark Theatre's board president.

Due to changing times, popularity of the movie house waned and in the mid-seventies, it was closed and slated for demolition. It was only saved when the pleas of so many were heard and it was put on the National Register of Historic Places.

The theatre, now a performing arts center, still has financial hurdles to clear, but they've begun a $16 million expansion. A historic tax credit will help pay for some of these massive costs.

"It will give us 20 percent of our total rehab cost so that's wonderful. Without those, we would not be able to do the project," said Deckman.

Senator Kirsten Gillibrand says she wants to broaden that federal aid so that more historic buildings in upstate can be helped. Under the Community Restoration and Revitalization Act, tax credits would be expanded so that smaller projects and more private investors could take advantage. The bill would make it more affordable for developers to turn these historic structures into downtown living and shopping spaces.

"In some parts of upstate New York, construction is at 50 percent unemployment. There's been a real halting in investment in real estate. So this tax credit can counteract that trend," said Gillibrand.

"Our biggest regional employers are eds and meds. They are non-profits that are located here. What this bill would allow us to do is to take those eds and meds and say we can rent to you here and still use those tax credits," said Stephanie Miner, Syracuse's mayor.

"We've had issues revitalizing our downtown and making sure that we have this transition to a new higher-tech economy, this is the kind of things that can spur a whole area," said Congressman Dan Maffei.

Gillibrand says she wants to attach this legislation to a jobs bill as she looks to garner more support.