CEO Guide to the States

#21

New Hampshire

CEO Rank on Best & Worst States for Business

GROWING IN THE GRANITE STATE

Putting its pro-business economic growth strategy to work during the pandemic, New Hampshire dedicated nearly 40% of its pandemic relief funding toward sup- porting the business community. The Granite State’s life sciences sector saw extensive growth in the past year, with several companies increasing capacity to meet the demands brought on by the pandemic. Lonza Biologics in Portsmouth is producing 100 million vaccine doses under an agreement with Moderna. Lydall began expansion of its facility in Rochester last summer to meet the growing demand for N-95 masks, and MilliporeSig- ma added 160 jobs in Jaffrey to ramp up production of components for Covid-19 treatments and vaccines. The state also landed several new projects from companies like Integra Biosciences and LSNE.

“Such low unemployment rates are no accident, but are the result of a continued effort to provide businesses with the flexibility needed to grow, while providing individuals with the incentives and resources needed to return to work. New Hampshire’s economy is well-positioned to make further economic gains throughout the year that will serve to benefit communities and families across the Granite State.”
Chris Sununu
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

No use tax, sales tax, inventory tax, capital gains tax, broad-based income tax or professional service tax.

Economic Revitalization Zone Tax Credit: Offers a credit of up to $40,000 per year for six years for projects that locate in an unused or underutilized industrial park, vacant land or previously unused structures.

R&D Tax Credit: Offers a credit of up to $50,000 in any one year for research and development costs.

NH CDFA Tax Credits: Awards up to $5 million per year to non-profit organizations that can then sell credits to businesses as a way to raise capital for community programs.

EDCs

NH Economy

nheconomy.com/start

Concord Economic Development

concordnh.gov/1040/economic-development

Your Manchester NH

yourmanchesternh.com

Manchester Development Corporation

manchesterdevelopmentcorp.com

HIGHLIGHTED PROGRAM OR INITIATIVE

The New Hampshire Tech Alliance hosts a variety of programs, events and initiatives to unite the state’s tech professionals and stakeholders and provide an environ- ment where collaborations and partnership flourish.

BIG DEALS

  • Manchester IT company made Inc. 5000’s list of fast- est-growing companies.
  • MilliporeSigma announced in December 2020 a $22 million expansion and 275 new jobs at a facility in Jaffrey.
  • True North Ale Company announced in July 2021 an expansion to the state.
  • Foxx Life Sciences announced in July 2021 a manufac- turing facility in Londonderry.
  • Fidelity Investments announced in September 2021 it would create more than 900 jobs in New Hampshire.
  • BAE Systems opened its new facility in Manchester in September 2021 and announced it was looking to hire 800 engineers. The company currently employs more than 6,000 people in the state.

BIG COMPANIES

  • Sprague Resources
  • PC Connection
  • Infosys
  • Universal Software Solutions
  • Liberty Mutual
  • Fidelity Investments
  • Tata Consultancy Services