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What’s Ahead for NH Businesses this Legislative Session

January 23rd, 2019

Ken Cail, left; Chris Way, NH BEA; Bruce Berke, NFIB

The New Hampshire Legislature is back in session and in this month’s New Hampshire Business Matters segment on WTPL-FM107.7, our guest is Bruce Berke, state director for the National Federation of Independent Business.


New Hampshire Business Matters airs at 2 pm, every third Wednesday of the month on WTPL-FM107.7


The topic? Legislation this session affecting businesses in New Hampshire.

 

New Round of Job-Creating Business Tax Cuts Take Effect in 2019

January 2nd, 2019

The New Year means further reductions to New Hampshire’s business taxes, which take effect on Jan. 4.

“New Hampshire’s economy is booming like never before, thanks to strategic investments and tax cuts made by my administration,” said Gov. Chris Sununu. “Our commitment to creating a business-friendly climate in the Granite State continues into the New Year, with a 2.5 percent reduction in the Business Profits Tax and 11 percent reduction in the Business Enterprise Tax.

“I’m incredibly proud that our management has led to more Granite Staters working than ever before, an increase in the number of young people moving to New Hampshire, and consumer confidence is at an all-time high. New Hampshire’s economy is roaring – and with this new round of job-creating tax cuts, we continue to move in the right direction. We remain committed to a further 2.5 percent reduction of the Business Profits Tax and 16.6 percent reduction of the Business Enterprise Tax in 2021. The economic successes we create for individuals will continue to drive opportunity for the state.”

New Hampshire’s Unemployment Rate Reaches 30 Year Low

December 18th, 2018

The most recent state jobs report notes that 763,040 New Hampshire residents are employed in the Granite State, and unemployment rates had reached 2.5 percent – a low that has not been reached since August of 1988.

“Thanks to the strategic initiatives that New Hampshire has made, and our pro-growth, pro-jobs focus, more Granite Staters are working than ever before in the state’s history,” said Gov. Chris Sununu. “As New Hampshire’s unemployment rate remains well below the national average, it’s clear that we continue to set the gold standard for the rest of the country. Our strong, thriving workforce will serve as a solid foundation for further economic development.”

Department of Business and Economic Affairs Commissioner Taylor Caswell added, “Today’s economic news continues the positive trends of the past few years relating to the labor force; demographics; migration; exports; unemployment, and capital investment.

“We can say with confidence that New Hampshire’s economy remains highly competitive and will continue to attract top talent and world class employers.”

 

More Young Adult Migrants Moving to New Hampshire from Other U.S. Locations

December 11th, 2018

This analysis was conducted by the University of New Hampshire’s Carsey School of Public Policy.

NH is gaining young adult migrants in contrast to recession era migration losses.

New Hampshire received a significant net inflow of people from other U.S. states between 2013 and 2017, according to new Census Bureau estimates.


New Hampshire is now gaining young adult migrants in contrast to recession era migration losses.


The average annual domestic migration gain was 5,900 between 2013 and 2017. In contrast, only about 100 more people moved to New Hampshire than left it for other U.S. destinations annually during the Great Recession and its aftermath between 2008 and 2012.

The transformation was greatest among those in their 20s, who had an average annual migration gain of 1,200 between 2013 and 2017 compared to an average loss of 1,500 annually from 2008 to 2012.

Among those in their 30s, the net annual migration gain nearly doubled during the same period, while the net inflow of those 40 to 49 diminished slightly. As more family age adults migrated to New Hampshire, their children fueled a significant increase in the net influx of those under age 20.

In contrast, among those age 50 and over, the net outflow of people from the state increased slightly. Modest immigration from other countries at all ages supplemented the domestic migration gains analyzed here.

These recent domestic and immigrant migration gains are both modest, but they provide additional human and social capital to a state challenged by an aging workforce and population.

For more information about living and working in New Hampshire, visit ChooseNH.com

Growing Salem Business Reflects Growing Life Sciences Sector in New Hampshire

December 11th, 2018

Foxx Life Sciences CEO Tom Taylor, left; Commissioner Caswell

A manufacturer that has doubled in size over the past year is looking to expand again, its CEO said last week during a visit with Business and Economic Affairs Commissioner Taylor Caswell.

Foxx Life Sciences, a world-leader in custom, single use bottle, flask and carboy bioprocess assemblies for the biotech and pharmaceutical industries, is ready to max out on its 55,000 square-feet it’s been operating in since 2014. CEO Tom Taylor said he needs to expand the company into at least 100,000 square-feet in the next two years, to meet its ambitious goal of $100 million in sales in the next decade.

“Clearly, I want that to be in New Hampshire,” Taylor told Caswell. “Strategically, this is the best place in the world for us.”

Since 2014, Foxx has grown from five employees to over 50, supplying some of the world’s most recognizable names in biotech/medtech. This company, Caswell said, is part of the state’s fast growing life sciences sector, complementing the work of others in the industry, while earning an international reputation for its innovative products.

“This is exactly the kind of company that can be established in New Hampshire and join some world class companies, like Lonza,” Caswell said. “Boston, and its significant life sciences sector, is just 30 miles away, but there are clear advantages to doing business here, not the least is our business friendly climate.”

Caswell said his team at Business and Economic Affairs will work with Taylor on his needs for expansion and connecting him with other companies within the state’s life sciences sector.

 

NH Tourism Officials Projecting More Than 2.5 Million Overnight Travelers to Visit Granite State This Winter

November 30th, 2018

Stay connected with New Hampshire tourism on Facebook, Twitter, Instagram, Pinterest and YouTube, and be sure to follow the #LiveFreeNH tag to see what other people are saying about winter in NH.

The New Hampshire Division of Travel and Tourism Development anticipates more than 2.5 million overnight travelers will visit the Granite State this winter, spending more than $1.1 billion. DTTD’s winter travel projections mark approximately 3 percent increases in both visitation and spending compared to last winter. DTTD unveiled its winter marketing plan, along with the forecast, during a winter kickoff hosted by Ski New Hampshire at McIntyre Ski Area in Manchester.

“The division’s advertising and promotional efforts shine a spotlight on what makes New Hampshire the region’s premier travel destination,” said Victoria Cimino, director of the New Hampshire Division of Travel and Tourism Development. “In winter, the Granite State’s array of outdoor recreation opportunities—highlighted by the state’s tremendous skiing—as well as an emerging dining scene and tax-free shopping, sets the state apart from the competition.”

Ski New Hampshire, the organization that promotes New Hampshire as the top ski destination in the region, hosted its first Ski 603 Winter Kickoff event to showcase the variety of options for skiing and snowboarding. More than 20 New Hampshire resorts participated in the event, which featured 14 New Hampshire breweries, distilleries and wineries.

For the 2019 winter season, DTTD will continue to focus on markets in northeast Canada, New York and the New England region. DTTD’s creative features skiing, family fun and snowmobiling as core winter activities, as well as après ski activities and off-slope adventures such as snowshoeing, dining and shopping.

Explore www.visitnh.gov for New Hampshire winter inspiration, including:

 

New Hampshire Welcomes National Sportsmen’s Conference

November 29th, 2018

Lake Francis, Pittsburg

The annual meeting of the National Assembly of Sportsmen Caucuses, whose membership includes over 2,000 state legislators, runs through Friday at the Omni Mount Washington Hotel.

“New Hampshire’s North Country is the perfect backdrop to welcome sportsmen and outdoor advocates from around the country,” said Taylor Caswell, commissioner of the New Hampshire Department of Business and Economic Affairs. “This is a great opportunity to showcase our $8.7 billion outdoor recreation economy and how it is thriving through our public/private partnerships.

“We want to do everything we can as a state to recognize that outdoor recreation supports health, contributes to our high quality of life, and attracts and retains employers and families,” said Caswell.  “I hope this conference gives a national audience of outdoor enthusiasts a taste of how great we have it here in New Hampshire and maybe even convinces a few of them to come back and stay awhile.”

The annual summit, which is held at venues around the country, brings together state policy makers, sportsmen and outdoor industry partners to discuss strategies and interests.

New Hampshire Granted Alternative Site Framework Designation; Widens Trade Opportunities for Businesses

November 19th, 2018

Service area for the Alternative Site Framework for FTZ #81

The state’s application for federal approval to expand Foreign Trade Zone #81 has been approved by the Foreign Trade Zones Board, according to Geno Marconi, director of the Pease Development Authority, Division of Ports and Harbors. 

The state’s four Foreign Trade Zones, located at the Pease International Tradeport; the Manchester-Boston Regional Airport; the Market Street Marine Terminal in Portsmouth, and the Portsmouth Industrial Park are reorganized under the Alternative Site Framework, which includes all or parts of nine of the state’s 10 counties. FTZs authorized by the federal government are typically located adjacent to U.S. Customs Ports of Entry and enable companies to defer, reduce or eliminate duties on imported merchandise. Potential users of the FTZ can now utilize its benefits within approximately 30 days from the time an application is accepted for filing; previously, applications took up to a year.

“This is another step toward our aggressive goal of enabling businesses in New Hampshire to find profit and success in the international marketplace,” said Commissioner Taylor Caswell of the Department of Business and Economic Affairs. 

The Foreign-Trade Zones Act of 1934 provided financial incentive to companies, which would have operated offshore, to locate within the United States, to create jobs and stimulate the economy. 

Foreign-Trade Zones are areas designated by the FTZ Board and are under the supervision of U.S. Customs and Border Protection. For the purpose of assessment and collection of import duties, foreign imported merchandise entered into a zone is considered not to have entered the commerce of the United States, so duties are not paid while the merchandise remains at the site. Depending on the final disposition of merchandise, duty deferral, duty reduction and/or duty elimination are potential zone benefits. 

For information on New Hampshire’s Foreign Trade Zones, contact Marconi at the Division of Ports and Harbors, 555 Market St., Portsmouth, 603-436-8500 or g.marconi@peasedev.org

New Hampshire High Tech in the Spotlight for Technology Month

November 1st, 2018

Gov. Sununu; the Executive Council and members of the Technology Sector Partnership proclaim November as New Hampshire Technology Month.

The bridge between New Hampshire Manufacturing Month, which took place throughout October, and New Hampshire Technology Month, which begins today, is the 16th annual Governor’s Advanced Manufacturing and High Technology Summit (that happens tomorrow – 11/2).

It makes sense that we devote some time to highlighting these two important sectors to our economy. Both complement one another and really, you can’t have manufacturing without technology. Over the past few weeks, there has been exciting news from Granite State companies, like the space technology partnership between NASA and Nanocomp Technologies in Merrimack and the Global Aerospace Bearings Market Growth report, which listed two of our companies, New Hampshire Ball Bearings and the Timken Company as the “top-rated important players of the aerospace bearings market.”

BEA Commissioner Taylor Caswell at the Lakes Region Manufacturing Breakfast Symposium

New Hampshire is no stranger to being on the cutting edge of technology, whatever the century. As Business and Economic Affairs Commissioner Taylor Caswell noted at the recent Manufacturing Breakfast Symposium at the Belknap Mill (the only remaining example of brick/beam, exposed joists construction), mills like this one and the Amoskeag Mills in Manchester ushered in the Industrial Revolution and now high technology.

They are not knitting cotton by the mile, but “they are 3D printing kidneys and limbs,” he said, referring to the Advanced Regenerative Manufacturing Institute, which is located in the Manchester Millyard.

Technology at Nanocomp Technologies, Merrimack

With the turn of the calendar page to November, we have New Hampshire Technology Month, as proclaimed by Gov. Chris Sununu, to highlight this sector, which is expected to grow by 10 percent over the next decade.  There are about 26,000 people working the tech sector and the challenge is to find more of them to fill positions created by that growth.

What’s on tap for New Hampshire Technology Month? Head over to the NH Sector Partnership Initiative’s technology calendar, which is filled with tech activities.

Nanocomp Technologies Joins NASA in a Space Technology Partnership

October 29th, 2018

Officials from NASA were in New Hampshire today to meet with a team from Nanocamp Technologies in Merrimack, for a look at the technology that could bring down the cost of spaceflight and exploration.

Nanocomp, a Huntsman company, manufactures Miralon, a high strength, carbon based material. NASA awarded Nanocomp Technologies a contract to continue developing its pioneering high strength carbon nanotube (CNT), seeking to double the strength properties of carbon fiber composites in use today.

Miralon is composed of interconnected, long-form nanotube bundles, produced in sheets, yarn, tape, and dispersed products.

Today’s event included a tour of the company’s Merrimack facility and demonstrations of yarn production; how Miralon can be used as a heat shield for space, aircraft and automotive applications; the furnaces that produce the sheet and yarn product, and more earthly uses of Miralon for heated outdoor furniture and fixtures.