New Hampshire Direct Financial Incentives
New Hampshire's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment.
Corporate Taxes & Incentives Guide
The New Hampshire Business Finance Authority (BFA) manages a series of loan programs that combine bank and BFA financing with cash or guarantees for small and large businesses. Business loan programs administered by the BFA include small-business loan guarantees, the Capital Access Program, the Guarantee Asset Program, and the Working Capital Line of Credit Guarantee. In addition, the BFA offers finance programs designed to help local or regional economic development organizations recapitalize or expand to stimulate business movement to the state.
Recognizing the need to help New Hampshire industry improve its competitive position, the New Hampshire legislature created the Industrial Research Center (IRC) in 1992. One of the IRC's distinctive features is the opportunity for New Hampshire-based industrial companies to apply for matching grants funds. It is anticipated that grants will not usually exceed $25,000, and the company must utilize IRC-affiliated technical resources to leverage the company's own capability.
Privately sponsored development credit corporations:
Granite State Development Corporation is a private, nonprofit certified development corporation that can provide SBA 504 loan funding to qualified firms. Use of proceeds must be for long-term fixed assets.
Northern Community Investment Corporation, a private, nonprofit development organization, provides direct loans, loan guarantees, and equity investments in fixed assets or working capital for new or existing businesses in northern New Hampshire.
Concord Regional Development Corporation (CRDC) serves as the SBA-approved 504 certified development company (CDC) for qualified businesses in Belknap, Grafton, Merrimack, and Sullivan counties. The main function of the CDC is to market, process, originate, close, and service SBA 504 loans.
The New Hampshire Community Loan Fund administers the Working Capital Program, which provides loans of between $500 and $5,000 to small businesses. To be eligible for a loan, the company must join a "small loan group" - usually part-time, home-based sole proprietorships. The Institute for Cooperative Community Development administers the SBA microloan programs for loans between $10,000 and $25,000 for New Hampshire-based businesses.
Economic Revitalization Zone Program:
New Hampshire offers a tax credit against corporate income tax. The cap is $40,000 per year up to $200,000 over five years.
Job Grants Program:
This program offers a 50/50 cash match for customized training up to $100,000.
Coos County Job Creation Tax Credit:
This is a $1,000 tax credit for each new full-time employee hired in Coos County, which is in northern New Hampshire.
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.
Federal Contract Procurement
The Procurement Technical Assistance Program (PTAP) is sponsored by the state of New Hampshire Business Resource Center and the Defense Logistics Agency. This national program provides specialized and professional assistance to individuals and businesses seeking to learn about contracting and subcontracting opportunities with the Department of Defense (DOD), other federal agencies, or state and local governments.
Export/Import Assistance
The New Hampshire Office of International Commerce, managed by the NH Division of Economic Developpment, plans, develops, and administers programs for international trade promotion and foreign market development for New Hampshire companies.
Manufacturing consulting
New Hampshire MEP provides low cost consulting services, including lean and agile supply chain management, product development, technology transfer and commercialization; quality management, including compliance with ISO 9000/14000 certification requirements; information technology (IT) management; plant layout, equipment specification, and health, safety, energy, and environmental issues.
Return to work
Allows unemployment claimants to continue to receive their unemployment benefits while receiving up to six weeks of on site training at a business who has the option to hire them long term.
Get Ready To Work
The New Hampshire Department of Resources and Economic Development and the Community College System of NH will provide basic skills assessments, skill certification, and/or remedial courses to eligible claimants.
New Hampshire State Contact:
Michael Bergeron
Business Development Manager
N.H. Dept. of Resources and Economic Development
P.O. Box 1856
Concord, NH 03301-1856
(603) 271-2591 Fax: (603) 271-6784
Cell: 603-419-9713
Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings. This information was last updated November 2014.