Interesting challenge, Katherine: kind of a bulk Copy Project idea, preserving custom data, but changing portions of it.
If this is a once a year event, it might be possible to adapt our "http://store.atappstore.com/workfront-merge-or-split/">Workfront Merge/Split technology to pull out your 2016 Projects, "tweak them" offline to turn them into new 2017 Projects (noting that you and I would first figure out together exactly how to do the tweak), and then merge them back into Workfront on mass.
Ah: although (editing this idea) you might first consider doing something similar with Kickstarts, on your own.
Regards,
Doug