Two New Hampshire companies join the Best of New England booth at the 40th annual Arab Health Exhibition and Congress in Dubai, the second largest healthcare trade show in the world and the largest in the Middle East, which runs Jan. 26-29.
Intrinsyk Medical of Salem, which designs, manufactures and distributes medical devices related to diabetes treatment, and Lamprey Networks Inc., of Durham, provider of connected health products, solutions and services for remote monitoring, will be a part of the Best of New England booth, which is a partnership of trade offices in the region and US Commercial Service.
“About 7,000 people are employed in bio-medical manufacturing and research – that’s 14 percent higher than the national average in this industry,” said Carmen Lorentz, director of the New Hampshire Division of Economic Development, which oversees the OIC. “Projections indicate the number of jobs will grow by 10 percent in the next five years. Arab Health is a great place to highlight this important sector in our economy.”
Representatives of the companies participating in the show agree.
“This is a key show because of the potential clientele that visit the show,” said Tom Gannon, Intrinsyk’s vice president for commercial operations. “This is where we can meet decision makers in one place.”
Founded in July 2013, the company seeks to expand its global markets, he said.
Intrinsyk’s products, including blood sampling devices and needles used for insulin pens, will be of particular interest in the Middle East and North Africa, where an estimated one in 10 adults has diabetes, with half of those undiagnosed.
“There are areas in the region that are remote and our technology can help people there,” Parker said. “This is an opportunity to bring forward our products and find partners in these regions – the Middle East and Eastern Europe.”
While the cost of attending an international trade show like Arab Health would be prohibitive for small New Hampshire companies, funding from the State Trade Export Promotion grant makes it possible for them to participate. The Best of New England booth model further provides exposure to growing sectors in the northeast, which raises the profile of the region.
The Division of Economic Development provides assistance to businesses throughout the state, acting as a single point of contact.
For more information or assistance, contact the Division of Economic Development at 603-271-2591 or firstname.lastname@example.org. For information about international trade, visit www.exportnh.org.
NH Division of Economic Development
A Massachusetts electronics manufacturer has relocated its East Coast operations to southern New Hampshire and plans to hire up to 15 employees this year.
Plans to hire 15 this year
Rapid Manufacturing, a family-owned global electronics manufacturing company based in Anaheim, Calif., moved from Tewksbury, Mass., to Hudson, where it purchased a 37,000-square-foot manufacturing space.
The company specializes in electronic custom-designed wire and cable harnesses, electro-mechanical and box build assemblies for OEMs. The Hudson facility makes prototypes and fills low volume orders for East Coast customers.
“The reasons we relocated to New Hampshire are because of the close proximity to our customer base, low taxes and we found a quality building we could purchase,” said Operations Manager Doug Lang. “We plan to lease about half the building once we have completed our renovation next spring and hire up to 15 employees over the next year.”
Michael Bergeron, senior business development manager for the New Hampshire Division of Economic Development, said the move by Rapid Manufacturing “is another great example” of a family-owned business relocating to New Hampshire.
“By locating in southern New Hampshire, companies like Rapid Manufacturing can draw labor from the local market, as well as the Boston metro market,” he said.
For more information about the job openings, visit rapidmfg.com.
For information on the benefits of relocating to New Hampshire, contact Bergeron at 603-271-2591 or visit the nheconomy.com website.
NH Division of Economic Development
Seth A. Goodall is the New England Regional Administrator for the U.S. Small Business Administration. We run into him frequently when he comes to New Hampshire. -Ed.
Millennials, born between 1980 and the mid-2000s, are the largest generation in the U.S., representing one-third of the total U.S. population in 2013.
Millennials are a technologically connected and diverse generation. Their unprecedented enthusiasm for technology has the potential to spark change in traditional economic institutions and the labor market. The priority that millennials place on creativity and innovation make them an important engine for the U.S. economy for decades ahead.
Millennials were born to be entrepreneurs and at SBA in New England, we’re making millennial entrepreneurship dreams come true. For example, in Center Ossipee, NH, millennial entrepreneurs Matt Trahan and Ash Fischbein of The Sap House Meadery harnessed assistance from Kit McCormick of the NH Small Business Development Center to jumpstart their business.
It’s exciting to witness millennials becoming entrepreneurial trailblazers in our local communities and neighborhoods with SBA assistance.
Despite their promise, unemployment remains high among millennials – one in four millennials are experiencing unemployment. Millennials who grow up in underserved communities face even higher rates of poverty and unemployment. Young African-Americans and Latinos under the age of 25 are twice as likely to be unemployed.
For many young millennials of color, entrepreneurship isn’t about monetizing a hobby for some extra cash, it’s about finding a way to support themselves. Research shows that more than half of millennials are interested in starting their own business, especially African-American and Hispanic males.
That’s why the Administrator of the U.S. Small Business Administration (SBA), Maria Contreras-Sweet recently announced the My Brother’s Keeper Initiative for Millennial Entrepreneurs. It’s a new federal outreach and education campaign to help America’s millennials become what we call “enterprise-ready.”
President Obama launched My Brother’s Keeper to address persistent opportunity gaps faced by young people of color and to ensure that all young people can overcome challenges and achieve their potential. The President’s new economic opportunity agenda for millennials creates new policies to support this generation.
At the SBA, our message to millennials is clear. It’s a message of inclusion and possibility to help jumpstart their small business potential in where their talents and interests lie. Overall, we want to help millennials start, grow, and succeed as small business owners and we won’t charge them a dime for it.
Entrepreneurship can be the answer if your question is “What’s next for me?” If you’re a potential millennial entrepreneur or know someone that is, click here to learn more.
Our tech companies are optimistic regarding near term growth, with 58 percent expecting improvement for the sector over the next six months and 71 percent expecting individual company growth. Yet we are bearish on the global economy, with only 28 percent expecting growth. Where do they expect to see this growth? The top four areas are investments in new business and product lines, technology expenditures, marketing and advertising, and staff training and professional development. Which sectors expect to see the most growth? There were four that stood out – software and application development, advanced manufacturing, energy technology/cleantech, and cybersecurity.
A check on tech in NH
When asked what could inhibit growth, the top concern for New Hampshire companies was access to credit/capital, with 48 percent of respondents expressing concern as compared to 23 percent nationally. The biggest change from the 2013 results was this concern around accessing capital, which was at 33 percent and grew to 48 percent in just one year. Other concerns included downward trends in pricing, unexpected shocks to their market, lack of confidence in the market, and talent shortage.
Much has been made over the concern for skilled workers. Drilling down in this area and getting specific information on what skills our companies need today and foresee needing in the near term is a high priority for the NHHTC. In this survey, 78 percent of respondents have a moderate or significant shortage of skilled workers, a number this is consistent with the Northeast and the country as a whole. The good news is that 55 percent of respondents plan to hire for new positions in the next year while only 10 percent plan to reduce staff. Both numbers improved significantly over 2013 but the hiring statistic does lag behind the national average of 63 percent.
When it comes to public policy, the top five areas for public policy action in NH are as follows: better access to capital; access to state level funding for innovation; support STEM education in higher education; and concern about taxes and regulation. On the taxation/regulation issue 33 percent believe that corporate tax rates are generally too high on businesses as compared to 26 percent nationally.
For those thinking of starting a business in the region, the Northeast ranked the highest at 48 percent in terms of being a top tier location for tech startups, however New Hampshire was only viewed as a top tier location by 17 percent of respondents while 57 percent gave it a mid tier ranking. Two factors rose to the top in terms of what does make New Hampshire attractive – the quality of life at 80 percent and the entrepreneurship/innovation ecosystem at 60 percent, both well above national averages.
The NHHTC will be using this data and other information to craft a set of legislative initiatives and an annual report card on our tech sector. We will also be looking to collaborate with other business groups such as the new Live Free and Start initiative, the BIA and chambers of commerce to find common ground and support legislation that can advance our sector. Our goal is to make sure we are doing everything possible to promote and grow our tech sector, reduce barriers to growth, and find better ways to access capital and the human resources needed to support our economy in 2015 and beyond. Happy New Year.
NHHTC Executive Director
NHHTC Chairman of the Board of Directors
We first talked about it last month, when we sat down with Perry Plummer, director of New Hampshire Homeland Security and Emergency Management, on the monthly New Hampshire Business Matters segment on WTPL-FM107. He and our director, Carmen Lorentz, spoke about the resources available to business owners in the event of an emergency or disaster.
The NH Alerts app
The latest (and free) tool is now available, with the launch this week of the NH Alerts mobile app, which notifies users of hazards in the area based upon cellphone location.
“The NH Alerts app takes emergency notification to the next level,” Director Perry Plummer said. “Those with the NH Alerts app on their phone will know about safety issues in their area, from accidents and road closures, to hazardous
weather and active shooters. We can now send messages directly to those people who are in the path of danger. I strongly encourage everyone to download this app.”
The NH Alerts app provides warnings via an audible tone and the types of alerts received can be customized to enable users to determine the frequency with which warnings are received. It works with iPhone and Android cellphones and is available via links on ReadyNH.gov.
If you are a New Hampshire resident and you do not have a smartphone or want warnings sent to your traditional phone, sign up to receive emergency information by landline or other non-smartphone methods. Encourage friends, family members and colleagues who live in New Hampshire to enroll with their information.
If you need help with the NH Alerts mobile application, call toll-free at 866-533-6935 or send an email via the support section.
The NH Alerts app is free to all, whether you live here or are visiting from another state.
NH Division of Economic Development
Once a month – at 3:05 pm every third Wednesday – NH Economy hosts New Hampshire Business Matters on WTPL-FM 107 (through the sponsorship of Sugar River Bank). Guests of Director Carmen Lorentz include business leaders who speak about highlights, trends and resources available to help their industries grow and prosper.
Being prepared for the things you may think will never happen to you is important. Why? About 40 percent of businesses never reopen after a disaster.
It’s worth a listen to this month’s program, especially to find out more information about the new app debuting next month – NH Alert. Our website also has information about preparing your business continuity plan.
Division of Economic Development
New Hampshire Public Radio took an extensive look at government contracting on Monday, after spending a morning recently at a training seminar in Littleton with David Pease, program manager for the New Hampshire Procurement Technical Assistance Program.
NH PTAP (for short) is one of the free services we offer here at the Division of Economic Development and its mission is to assist small businesses in navigating the waters (and currents) of government contracting. It’s not exactly easy, but patience and persistance can pay off.
Chris Jensen, North Country correspondent for NHPR, produced this segment and if you are a small business, it’s well worth the four-minute listen.* And then visit our NH PTAP website.
NH Division of Economic Development
* Some examples of the kinds of services and products for which the government is contracting with New Hampshire businesses include: Bags and sacks; bakery products; ball and roller bearings; battery and power systems; biological studies; body armor; building rental; buoys; packaging materials; paint; paper shredders; paving; plaques; plumbing, heating, HVAC; precast concrete; property management … and that’s only part of the list!
High Liner Foods cuts the red ribbon on its new corporate headquarters in Portsmouth.
We headed out to Portsmouth on Friday to join the festivities as a company celebrated the opening of its US headquarters at the Pease International Tradeport.
High Liner Foods cut a red ribbon on its brand-new, state-of-the-art building, which will be home to 110 full-time employees, relocated from its former US headquarters in Danvers, Mass.
“The opening of this new facility is an important milestone for High Liner Foods,” said Keith Decker, president and chief operating officer. “The company has grown significantly over the last several years, particularly in the U.S., and the relocation and design of the new building will help us serve our customers better and attract and retain the top talent required for continued growth into the future.”
High Liner Foods are sold around the world and in North America, under brands including under the High Liner, Fisher Boy, Mirabel and Sea Cuisine.
High Liner Foods US Headquarters, Portsmouth
Its new facility features advanced communications technology, a cutting-edge culinary innovation center and research and development facility, an open workspace environment that encourages employees to collaborate and it was designed and built using sustainable building principles.
There is space for future expansion and is located only two miles away from the company’s Portsmouth manufacturing facility at 1 Highliner Ave., bringing management and the culinary team in closer proximity to the manufacturing site.
“With a design that reflects our updated branding, we believe the new building will inspire employees to continue fulfilling our recently formalized mission: to radically simplify selecting, preparing and enjoying seafood at its best,” Decker said.
High Liner Foods worked with the Division of Economic Development as it explored the move to New Hampshire.
“The property was really perfect for the relocation,” said Michael Bergeron, senior business development manager. “It’s close to the manufacturing facility and the cost of establishing the US headquarters was less expensive here than in Massachusetts.”
If you are keeping track, High Liner Foods is the latest company in the past few months to relocate its corportate headquarters from the Bay State to the New Hampshire Seacoast, joining Andover Healthcare and SMC Aerospace.
NH Division of Economic Development