New Hampshire Celebrates An Economic Upturn

The Live Free or Die State is becoming a technological hub.

By Kyle Peschler
From the May / June 2024 Issue

 

The New England states have an ongoing reputation for their scenic fall landscapes and quaint seaports. While New Hampshire is a popular vacation spot for tourists from around the U.S and beyond, it is now becoming a recommended place for businesses as well.

Many industries have settled in New Hampshire to conduct their business. Technology and healthcare industries have found a home in the Live Free or Die State. While tech firms may have focused on larger cities, this has changed with New Hampshire experiencing a tech revolution. New Hampshire cities such as Manchester and Portsmouth are gaining a national reputation for their tech industry launch pads.

According to the New Hampshire Department of Business and Economic Affairs (DBEA), Manchester used to be the home of largest textile production operations in the world. Today, “Manchester’s collection of revitalized mill buildings along the Merrimack River are now filled with high tech firms, growing startups, incubators, and an urban campus for the University of New Hampshire. Supported by firms like DEKA Research and Development, the area has become a launchpad for tech innovation.”

New Hampshire
(Photo: Adobe Stock / Sergey + Marina)

Meanwhile, Portsmouth is home to more than 250 companies employing more than 10,000 people. Serving as an economic engine for the seacoast, Portsmouth boasts diverse tech companies such as Bottomline Technologies and Adtech Systems.

The healthcare industry has seen a steep rise in New Hampshire as well. As one of the state’s largest industries, healthcare in New Hampshire is surging, expected to grow at least 15.7% through 2026 — signaling an immense amount of opportunity for job seekers, according to the DBEA.

Manchester has become an innovator in regenerative human medicine with the creation of a $300 million Advanced Regenerative Manufacturing Institute.  Other New Hampshire cities such as Lebanon are filled with medical device and biotechnology startups that are rapidly developing.

Exporting has seen a significant rise in New Hampshire as well. “For the third consecutive year, New Hampshire exports set a record high, topping $7.6 billion in 2023, according to the U.S. Census Bureau, while nationally the export of U.S. goods was down 2.2 percent,” the New Hampshire DBEA stated in a recent press release.

Even with United States exports decreased in 2023, that didn’t stop New Hampshire from having a record setting year distributing products all over the globe to countries such as Canada, Germany, and Mexico.         

Claremont, NH: An Up And Coming Community

Claremont, New Hampshire, has so much to offer: natural beauty, historic architecture, and a high quality of life. Located in the scenic Connecticut River Valley, the city’s 13,000 residents have access to top manufacturing and technology jobs along with some of the best recreational opportunities around.

Businesses with international renown are based here, and many location options are available for incoming businesses. While Red River Technology is located downtown in a beautifully renovated historic factory building along the Sugar River, Mikros Technologies and North Country Smokehouse chose locations in Claremont’s industrial parks.

There are eight available lots in Syd Clarke Industrial Park and two available lots in Ashley’s Landing, and both industrial parks are owned by the Claremont Development Authority (CDA), a Board with the mission to expand business opportunities in the city.

Claremont, New Hampshire
Claremont, New Hampshire, is home to tech and manufacturing, while also raising its recreation profile. (Photo: The Claremont Advantage)

 

Strengthening and expanding the recreational economy through partnerships and grants is also a high priority in Claremont. Recognizing the growing interest in Claremont as a mountain biking destination, the City worked with two established local entities to come together to strengthen both organizations. The Wheel House, a full service, rider owned and operated bike shop is now located at the city-owned Arrowhead Recreation Area.

This shared location is now managed by the Wheel House Bike Shop and the non-profit Arrowhead Recreation Club. During the winter months, Arrowhead offers downhill and cross-country skiing, snowboarding, tubing, sledding, snowshoeing, and access to snowmobile trails. During the rest of the year, Arrowhead is home to hiking, ATV trails, and downhill mountain biking with access to the “Arrowhead Enduro Trails,” built and operated by The Wheel House Bike Shop and considered some of New England’s most thrilling mountain bike terrain.

The Arrowhead Recreation Area in Claremont has now become the annual host for three major national destination mountain biking events.

In 2022, Claremont was one of 25 towns across the nation selected to receive planning assistance through the second round of the Recreation Economy for Rural Communities (RERC) program. Sponsored by the U.S. Environmental Protection Agency (EPA), the USDA Forest Service, and the Northern Border Regional Commission (NBRC), the program helps communities develop action plans to strengthen their outdoor recreation sectors and revitalize their downtowns.

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The City of Claremont also applied for and was awarded $800,000 from the EPA for assessment, cleanup, and reuse planning/development of priority sites along the northern side of the Sugar River. This grant can be utilized for up to five years. Reuse planning and development is focused on community and recreation activities right in the City center.

The Steering Committee for the EPA Multipurpose Grant has been formed and will have responsibilities including community engagement, reuse/cleanup planning, site assessment, and remediation.

The City of Claremont is also an active participant with a new regional organization, Discover Sugar River Region, which has been established to bring awareness to all of the beauty, recreation activities, and opportunities in this part of the state.

While rural municipalities face many challenges, Claremont is fortunate to have an active and innovative community with citizens whose ideas and willingness to do the hard work help this special community continue to grow and prosper.

To learn more, visit www.claremontnh.com/advantage.


Check out all the latest news related to New Hampshire economic development, corporate relocation, corporate expansion and site selection.

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