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Posts Tagged ‘Gov. Sununu’

Gov. Sununu Nominates 27 Tracts for Federal Opportunity Zones

Thursday, May 3rd, 2018

New Hampshire Governor Chris Sununu has nominated 27 low income census tracts of the state to be designated as Opportunity Zones, part of a federal program encouraging economic development and investment in neighborhoods around the country.  Governor Sununu made the announcement from Marceau Park in Franklin, one of the areas designated today.

In New Hampshire, the areas nominated include tracts and contiguous tracts, ranging from the Manchester Millyard, downtown Rochester and tracts in the Seacoast, to the White Mountains and the North Country.

“New Hampshire’s resiliency lies in our local communities – they are the backbone of our society and the focal point of cultural activity,” said Governor Chris Sununu. “For far too long, however, some communities have been left behind. While some have thrived in recent years, others are struggling to keep up. Today, we are announcing 27 Opportunity Zones across the state to encourage investments in areas that are often left behind. Opportunity Zones provide tax incentives to investors to reinvest unrealized capital gains into neighborhoods throughout the state.  These local neighborhoods deserve an economic boost, and that is what we are going to give them. The goal is simple: to create jobs, to increase wages, and to revitalize communities across the state.”


For more information about the Opportunity Zone nominations, visit our website.


“Our goal was to designate tracts that present the best opportunities for investment and can leverage other state and federal resources.  My hope is that once this program is fully deployed, it can serve as catalyst to bringing economic opportunity to New Hampshire communities,” said Taylor Caswell, Commissioner, New Hampshire Business and Economic Affairs.

The program was created by the Tax Cuts and Jobs Act, which provides federal tax incentives to investors in areas designated as an Opportunity Zone and is administered by the U.S. Treasury Department.  States were required to designate 25% of the low income census tracts in the state as Opportunity Zones.  Investors can defer capital gains on earnings reinvested in the zones and long-term investments maintained for over 10 years do not have to pay additional capital gains taxes on earnings from Opportunity Zone investments.

Final designations are subject to federal confirmation and final rules for the new Opportunity Zone are being developed by the US Treasury.


Communities nominated for federal Opportunity Zones:

  • Berlin
  • Claremont
  • Colebrook, Atkinson and Gilmanton Grant
  • Conway/North Conway
  • Derry
  • Dixville Notch, Columbia, Millsfield, Errol, Dummer, Milan, Cambridge, Success, Erving and Wentworth’s Location, Second College Grant
  • Dover
  • Durham
  • Franklin
  • Keene
  • Laconia
  • Lancaster, Kilkenny
  • Lincoln, Easton, Waterville Valley, Livermore
  • Littleton
  • Manchester
  • Nashua
  • Newport
  • Plymouth
  • Raymond
  • Rochester
  • Seabrook
  • Somersworth
  • Stratford, Groveton (Northumberland), Stark, Odell

 

Gov. Sununu Launches Nationwide Recovery Friendly Workplace Initiative

Thursday, March 29th, 2018

Gov. Chris Sununu, before a packed audience last week that included recovery advocates, business leaders and state officials, announced the nationwide launch of his Recovery Friendly Workplace Initiative and an invitation to fellow governors to join in the movement.

“Recovery Friendly Workplaces are an opportunity for the governors across the country to help change the culture around addiction in their states by engaging employers in being a proactive part of the conversation,” Sununu said. “We can provide tools and resources to open access to treatment. Importantly, businesses increase productivity and profitability by promoting evidence based practices that reduce the health and safety consequences associated with unaddressed substance use in the workplace.”


For more information on the Recovery Friendly Workplace Initiative, visit www.recoveryfriendlyworkplace.com.


In calling on other states to join New Hampshire in this groundbreaking effort, interested states will have website domains, logos, and regulatory framework guidance provided to them. Rhode Island is the first state to join New Hampshire in creating a Recovery Friendly Workplace structure.

From the original launch on March 1, the list of early adopters has more than doubled in New Hampshire. Harvard Pilgrim HealthCare and the New Hampshire Hospital Association are a part of 16 additional companies who have signed on as early adopters, joining the 12 original organizations like the State of New Hampshire, Walmart and Turbocam. With these 28 early adopters, the total number of employees who work for a Recovery Friendly Workplace is about 26,000 people.

… And the Winner is … ! Announcing the Winners of the 4th Annual What’s So Cool About Manufacturing? Video Contest

Thursday, March 22nd, 2018

 

For the second year in a row, a team from the Londonderry Middle School won the annual What’s So Cool About Manufacturing? video contest and the $1,000 top prize.

The contest, coordinated by the New Hampshire Division of Economic Development and the New Hampshire Manufacturing Extension Partnership, pairs middle school students with local manufacturers for a look into the manufacturing process. Sponsors are BAE Systems and Hitchiner Manufacturing.

Gov. Chris Sununu announced the winning teams via video on Thursday morning.

“Advanced manufacturing is an important driver of our economy and it’s important for students to know what 21st century manufacturing looks like in New Hampshire,” Sununu said. “Over the past four years, the What’s So Cool About Manufacturing? video contest has introduced scores of middle school students around the state to the opportunities there are right here.”

The Londonderry team worked with BirdsEyeView Aerobotics of Andover to produce its video. Second place South Meadow School in Peterborough worked with Vicuña Chocolate; Winnisquam Regional Middle School in Tilton paired with Freudenberg NOK for its video and Kingswood Regional Middle School in Wolfeboro partnered with Crystal Geyser.

“New Hampshire’s economy is booming and advanced manufacturing contributes greatly to that,” said Commissioner Taylor Caswell of the Department of Business and Economic Affairs. “As the growth of this industry continues, we need to be sure students know that manufacturing offers them a rewarding career path.”

Gov. Sununu’s announcement and the winning videos can be seen on the Division of Economic Development’s 2018 What’s So Cool About Manufacturing? video contest YouTube channel.

 

Arvelo Sworn in as New Hampshire’s Economic Development Director

Friday, January 19th, 2018

Gov. Sununu, Director Arvelo

Wildolfo (Will) Arvelo was sworn in Jan. 18 as director of the Division of Economic Development by Gov. Chris Sununu.

Arvelo joined the agency earlier this month, following 11 years as president of Great Bay Community College in Portsmouth.

During that time, he oversaw the college’s move from Stratham to the Pease International Tradeport; development of the Advanced Technology and Academic Center in Rochester and a catalyst for creating programs meeting the needs of Seacoast employers and industries.

Taylor Caswell, commissioner of Business and Economic Affairs, said Arvelo’s experience is a great fit for the division, at a time when New Hampshire is growing.

“Our economy demands that we be able to meet the workforce demands of our employer community, and Will’s experience fits perfectly into those strategies,” Caswell said.

In his new role, Arvelo will oversee the division charged with business retention; business recruitment; international commerce; government contracting; workforce development, and marketing.

“I am honored and overjoyed to be joining Governor Sununu, Commissioner Caswell, and the Business and Economic Affairs team as we focus on building the economic landscape and workforce that will carry New Hampshire into the future and make it a top destination for new companies, workers and visitors,” he said. “I’m excited about, and looking forward to, working with entities and the many talented people across the state interested in collaborating as we explore new directions for how we think about and implement economic and workforce development strategies and initiatives.”

Allegro MicroSystems Announces Expansion, Investment in Manchester

Wednesday, December 20th, 2017

Leading Semiconductor Company To Expand In Manchester

Allegro MicroSystems, LLC, a leader in developing high-performance power and sensor semiconductors, broke ground on a 15,000-square foot expansion at its Manchester facility on Dec. 19.

The building expansion will support Allegro’s ongoing growth and investment in research and development, as well as reinforce the location as the company’s center of strategic business development.

“Allegro will continue to strengthen its investment in its technical talent and focus on high growth technological segments,” said Allegro President and Chief Executive Officer, Ravi Vig.


“Our ability to attract and retain skilled, high-tech talent to our Manchester facility will allow us to further invest in this prime location.”


Allegro’s facility is conveniently located minutes from the Manchester-Boston Regional Airport; close to leading New Hampshire and Massachusetts research universities, and within a one hour of the Seacoast, mountains, lakes, and urban environments like downtown Manchester and Boston, making it an attractive location for existing and prospective employees.

Allegro’s focus on advanced technology, product line expansion and innovation fits well with the business platform provided in New Hampshire.

“The Governor and I are fully committed to working with local companies to help them grow their business and attract talent,” said Taylor Caswell, commissioner of the Department of Business and Economic Affairs. “We are pleased that Allegro has chosen to invest in the Manchester area, and we look forward to their employees enjoying the revitalized mill yards, SNHU Arena, and other benefits of downtown.”

Allegro’s building expansion was designed by Margulies Perruzzi Architects and is being built by Hutter Construction Corp., with completion planned for next summer. Allegro will employ abut 400 people at its Manchester site, many of them engineers.

Gov. Sununu Announces the Winners of the What’s So Cool About Manufacturing? Video Contest

Tuesday, March 7th, 2017

Seven schools, submitting eight videos, competed for the top prizes this year in the third annual What’s So Cool About Manufacturing? video contest.

Thank you to our sponsors, BAE Systems and Velcro Companies, and to the students, teachers and manufacturers who worked together to produce these topnotch videos.

The playlist of the videos follows Gov. Sununu’s announcement. Stay tuned and see all the very cool things the students learned about advanced manufacturing in New Hampshire.