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New Hampshire Incentives and Workforce Development Guide

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Business Services

New Hampshire Procurement Technical Assistance Program (NH-PTAP): A cooperative program with the New Hampshire Division of Economic Development and the U.S. Department of Defense, Defense Logistics Agency. It provides specialized and professional assistance to businesses seeking assistance with contracting and subcontracting opportunities with the Department of Defense (DOD), other federal agencies or state and local governments.

New Hampshire Office of International Commerce: Plans, develops and administers programs for international trade promotion and foreign market development for New Hampshire companies. The center also works closely with the U.S. Department of Commerce, the U.S. Export-Import Bank, the U.S. Small Business Administration, the NH Small Business Development Center, the U.S. Agency for International Development and the New Hampshire International Trade Association.

Financing

Community Development Block Grant (CDBG): This assistance can be in the form of a grant to the municipality for the public infrastructure improvements on behalf of an expanding business or a loan to the business itself. The maximum amount of funding available for any given project is $500,000, regardless of size of the community applying for the grant. All grants have a one-year duration, and one job must be created for each $20,000 in CDBG funds granted. The key to this federal program is that a minimum of 60% of the jobs created must be filled by low- and moderate-income persons.

Industrial Revenue Bonds: This program is for manufacturers only—companies that manufacture or produce tangible personal property. At least 75% of bond proceeds must be spent on core manufacturing space and equipment. Storage, office and R&D space must be excluded from this calculation. To be cost effective, loans must range between $1.5 million and $20 million dollars. The interest rate is about 70% of prime and can be used for the purchase of land, buildings and capital equipment.

Tax Credits

Economic Revitalization Zone Tax Credits (ERZ): Short term, tax credits against the business profits and enterprise taxes. To qualify, must be located in an unused or underutilized industrial park, or vacant land, or structures previously used for industrial, commercial or retail purposes but currently not so used, or Brownfield site. The maximum credit over five years is $200,000, capped at $40,000 per year.

R&D Tax Credit: Small and large businesses can apply for tax credit on new research and development costs. The state has set aside $2 million a year to fund the credit, which is capped at $50,000 for any business that qualifies. This credit may be carried forward for up to five years.

Coos County Job Creation Tax Credit: A tax credit to businesses hiring new employees in COOS County and paying wages equal to or above 200% of minimum wage ($7.25 per hour). The credit is $1,000 for any new, full-time year-round jobs applied to the Business Enterprise Tax, but any unused portion of the credit can be applied to the Business Profits Tax. All new jobs created after the bill’s effective dates are eligible for the credit and there is no cap on the amount of jobs created. The carry forward is five years.

NH-CDFA Tax Credits: The New Hampshire Community Development Finance Authority (CDFA) awards up to $5 million a year in New Hampshire Tax Credits to nonprofit organizations. These organizations then sell the Tax Credits to New Hampshire businesses as a way to raise needed capital for community projects around the state. In exchange for the contribution, a company can take 75% of the donation as a tax credit on its BET, BPT or Insurance Premium Tax.

Workforce Development

Job Training Grant Program: is a 50/50 cash match for customized training. There is a $100,000 cap on the training amount. Each application is reviewed on a case-by-case basis with an emphasis on improving the skills of current or new employees.

New Hampshire On-The-Job-Training (OJT) Program: Offers assistance for those unemployed in New Hampshire long term (at least 18 weeks). The state will pay a company up to 90% of the training wages up to six months, depending on the size of the company and complexity of the training. The employee must be paid at least $11.00 per hour.

  • 1-50 employees = up to 90% of wage rate
  • 51-250 employees = up to 75% of wage rate
  • 251 or more employees = up to 50% of wage rate

New Hampshire Return to Work Program: Allows unemployment claimants to continue to receive their unemployment benefits while receiving up to six weeks of onsite training at a business that has the option to hire them long term. This program will provide the opportunity for the business to verify that the applicant is a good fit for the job and the company, as well as an opportunity for the applicant to verify it is a good fit and to show the business what s/he can do. Workers’ Compensation coverage is provided by the state through the duration of the program. The claimant must be paid $11.00 per hour.

Updated 1/13/15

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