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Archive for November, 2018

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

Monday, 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

Thursday, 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.