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New Hampshire Economic Development Directory


NH Statewide Economic Development Agencies

NH Utilities

NH Regional Economic Development Agencies

NH County Economic Development Agencies

NH City Economic Development Agencies

City of Rochester Economic Development
Karen Pollard, CEcD, EDP
Economic Development Manager
31 Wakefield Street
Rochester, NH 03867
603-335-7522
fax: 603-335-7597
[email protected]
www.thinkrochester.biz
Fantastic business locations are available in
Rochester, New Hampshire! Our vital and
growing city is a magnet for a talented and
educated workforce and we are seeking
expandable businesses. Call today for a
confidential appointment.

New Hampshire State Incentives

ECONOMIC REVITALIZATION ZONE TAX CREDITS (erz): Short term, tax credits against the business profits and enterprise taxes. To qualify, the location must meet certain demographic criteria, or be located in an unused or under utilized 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 $1million 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.

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 percent of the jobs created must be filled by low and moderate-income persons.

The 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.

The COOS County Job Creation Tax Credit is a tax credit to businesses hiring new employees in COOS County and paying wages equal to or above 200 percent 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.

INDUSTRIAL REVENUE BONDS: This program is for manufacturers only – companies which manufacture or produce tangible personal property. At least 75 percent 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 and 20 million dollars. The interest rate is about 70 percent of prime and can be used for the purchase of land, buildings, and capital equipment.

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 percent of the donation as a tax credit on their BET, BPT, or Insurance Premium Tax.

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