New Hampshire is shattering stereotypes.While many businesses head to Southeast, this Northeastern state is pulling them in the opposite direction.
New Hampshire has long offered businesses a low-tax haven. And while it has maintained these pro-growth policies, business and government leaders are seeking out new avenues to attract business. One example is the conversion of a former Air Force base to an industrial center.
The growth of the New Hampshire economy is staggering.
| "This corridor from New Hampshire
down to Boston is loaded with high-tech firms. It's a great place for us to be."
-- Kathy Tom-Engle, spokeswoman, Autodesk, computer software company |
The state has been ranked: first in business climate in New England by Money Magazine; first in the nation in percentage growth of wholesale and retail jobs; first in growth in non-manufacturing jobs; first in growth of gross state product; first in growth in personal income; fourth in the growth of non-agricultural jobs; fourth in population growth; ninth in the growth of service industry jobs; and seventh in the percentage of the population age 25 and over with a bachelor's degree.
The state has fostered this growth with a tax climate that is decidedly pro-business.
New Hampshire has no state income, sales, use, inventory or capital gains taxes. It also has no property tax on machinery or equipment.
In addition, the Legislature passed a new workers' compensation bill last year to minimize workplace accidents and ultimately reduce workers' compensation costs for businesses. Unemployment insurance premiums for businesses
are also among the lowest in the country.
Former Air Force base
takes off
One of the centers for business in New Hampshire is the former Pease Air Force Base in Portsmouth. The base was slated for closing after 1988, when Congress started the first round of base closures. The Pease Development Authority was formed in 1990, and the last military personnel officially left the base in 1991.
"Here we had 4,200 acres, and what were we going to do with it?" said Susan MacDonald, manager of Administration and Public Relations for the Pease Development Authority.
What officials have done is attract over 80 businesses, with several major expansions just completed or on the horizon. Pan Am Airlines located an aircraft maintenance facility at Pease, and Emery Worldwide has also moved in.
| Did you Know?
The Port of New Hampshire, in Portsmouth, is the northernmost
container port in the United States. Three railroads provide freight access to the entire East Coast. |
High-tech manufacturing firms also like the site. Celestica, an electronics manufacturer based in Exeter, N.H., has plans to build a 200,000 square foot facility at Pease and hire 150 new employees.
In 1994, Lonza Biologics (formerly Celltech), a pharmaceutical manufacturer based in Sweden, moved to Pease. The company completed a 76,000 square foot building in 1996, and recently invested $28 million in new equipment and laboratory and office space.An additional 55 employees were also hired.
"The site allows more convenient communication between our U.S. and Swiss colleagues," said Dr. Claude Chassin, head of Business Development for Lonza.
Chassin also said the location in Portsmouth puts Lonza close to the East Coast companies it does business with, including Pfizer, Hoffman-LaRoche, ImmunoGen and, Bristol Myers Squibb.
The airport is close to a number of transportation outlets, including Interstate 95, which runs north and south. The Port of New Hampshire is only 10 minutes away, and the former base is also served by rail.
East Coast access
Business activity, however, isn't limited to the Pease area. Autodesk, a computer software company, is adding 300 employees and leasing 32,000 square feet in Bedford.
"We were looking for a place on the East Coast to better assist our customers in Europe and the East Coast," said Kathy Tom-Engle, spokeswoman for the company. "This corridor from New Hampshire down to Boston is loaded with high-tech firms. It's a great place for us to be."
| "We're on the East Coast, there's air cargo
facilities, a foreign trade zone, the quality of life is tremendous. We think it's something special."
-- Susan MacDonald, manager of Administration
and Public Relations, Pease Development Authority |
Autodesk was also impressed by the state's workers.
"It's also not hard to convince people to move to New Hampshire if we hire them from elsewhere," she said. "We've begun hiring, and we are impressed by the quality of workers in the state."
In Tilton, DM Management is building an $18 million, 407,000 square foot office and distribution center. DM is a direct marketer of women's clothing and accessories. It produces the Nichole Summers and J. Jill catalogs. The plant will employ
550 people when
operational.
Businesses that come to New Hampshire often do what tourists can't: stay there. In addition to low taxes, the White Mountains and spectacular fall foliage, the state has 14 colleges and universities, including the University of New Hampshire and Dartmouth College.
"I don't think there's a better place to live," said MacDonald. "We're on the East Coast, there's air cargo facilities, a foreign trade zone, the quality of life is tremendous. We think it's something special."
NEW HAMPSHIRE Facts & Contacts
DEMOGRAPHY AND
ECONOMY
Population: 1.2 million
Capital: Concord
Three Largest Cities: Manchester, 103,000; Nashua, 82,000; Concord, 38,000
GSP: $29.4 billion
Per Capita Income: $26,615
Percentage of Private Manufacturing Labor Force Organized: 6.6%
Right to Work State: No
Unemployment Rate: 2.9% (October 1998)
Average Hourly Manufacturing Wage: $12.70
Population 25 and Over With Bachelor's Degree: Manchester 19.6; Nashua 28.8; Concord 28.1
EM's Education Quotient for the Largest School Districts: Manchester, Yellow; Nashua, Yellow; Concord, Green
Corporate Income Tax Rate: 7.0%
Percentage Employment by Sector: construction, 3.7%; manufacturing, 18.6%; mining, 0.07%; service industries, 29.0%; transportation/public utilities, 3.4%; wholesale/retail, 26.5%
Primary Industries: Industrial and commercial machinery; electronic and electrical equipment; fabricated metal products
Targeted Industries: space research and development; lumber and computer products; health services; educational services; business and financial services; electrical products and instruments
BUSINESS ASSISTANCE
Major Financial Incentives: Community Development Block Grants; Industrial Development Bonds; Loan Guaranty programs; Venture Capital Network; no general sales or use tax; no personal income tax; no capital gains tax; no inventory tax; no property tax on machinery or equipment
Worker Training Programs: Training Challenge Grant Program; New Hampshire Job Training Council; New Hampshire Technical Colleges and Institute; Technical Deployment Center
Technology Transfer Programs: New Hampshire Industrial Research Center matching grants program
Enterprise Zones: Manchester (an Enterprise Community, not Enterprise Zone)
Foreign Trade Zones: New Hampshire Port Authority, Portsmouth; Portsmouth Industrial Park; Crosby Industrial Park, Dover; Old Grenier Air Force Base, Manchester; ABB Combustion Engineering, Newington
International Trade Offices and locations: International Trade Resource Center, Portsmouth
Environmental Permit Assistance: Single point of contact system through New Hampshire Department of Environmental Services
QUALITY OF LIFE
Average Price for a Single-Family Home: Manchester, $162,500
Cost of Living Index: Manchester, 111.1
FOR MORE INFORMATION CONTACT
William E. Pillsbury Jr., Director, N.H. Office of Business and Industrial Development, 172 Pembroke Road, Concord, NH 03302, phone (603) 271-2591, fax (603) 271-6784 |
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