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Posts Tagged ‘ERZ Tax Credit’

State Helps Timberpeg Build Solid Foundation for Growth

Wednesday, June 29th, 2011

Just as the durability of a home relies on the sturdiness of its foundation, the strength of a business relies on its abilities to forge partnerships and plan for growth. Bearing that in mind, the New Hampshire Division of Economic Development and Timberpeg have crafted a relationship that is as solid as Douglas Fir and as strong as the tallest hemlock.

Under the new ownership of Bill Silverstein, Timberpeg and its sister companies Real Log Homes and Yankee Barn Homes are in growth mode. Silverstein acquired Timberpeg in January and has since consolidated New Hampshire offices and moved his Vermont and Montana operations to Claremont.

Manufacturer of timber frame homes and light commercial timber frame structures, Timberpeg now employs 62 people after rehiring 30 with plans to grow to 100. 

New Hampshire Division of Economic Development Business Development Manager Michael Bergeron introduced Silverstein to the NH Business Finance Authority, which is coordinating a loan to purchase a Claremont manufacturing building, provide new capital equipment and coordinate a working line of credit. Bergeron has also facilitated contact with the City of Claremont and introduced the company to the state’s ERZ tax credit and energy efficiency programs.

“This is a great example of a solid New Hampshire company coming back to life through sound business strategy and strong branding,” Bergeron said. 

“After looking at other states, I decided that New Hampshire was the best place to grow this company,” Silverstein said.  “One of the key factors in our quick turnaround and success has been the quality people in our company—it’s a real team.”

For more information on the Timberpeg and related brands, go to www.whshomes.com
or call (603) 542-5418.

State Business Development Manager Assists in Company Expansion

Tuesday, November 30th, 2010

Vaupell Rapid Solutions, a wholly owned subsidiary of Vaupell Molding and Tooling, Inc., has expanded to 20 Executive Drive in Hudson.  Michael Bergeron, Business Development Manager for the NH Division of Economic Development, assisted the company in exploring state and federal programs available to growing companies.

Vaupell General Manager Stratton Smith and NH Division of Economic Development Business Development Manager Michael Bergeron celebrate Vaupell’s recent expansion in Hudson.

Vaupell General Manager Stratton Smith and NH Division of Economic Development Business Development Manager Michael Bergeron celebrate Vaupell’s recent expansion in Hudson.

Steady growth over the last two years has allowed Vaupell to renovate a 37,500 square foot space and hire an additional nine people over their 50 employee base.  Vaupell is a global contract manufacturer of custom injection molded components and assemblies focused on the aerospace, medical, and defense marketplaces. The new facility has a wide variety of processes and technologies to produce prototypes to full production assemblies from a wide range of materials including plastics, metals and composites.

“Vaupell is a great example of a high value manufacturing company in New Hampshire that is very competitive in the world market and is growing in New Hampshire because of the skilled labor and lower cost of businesses,” Bergeron said.

“We considered other states,” added Vaupell General Manager Stratton Smith, “but our quality people in Hudson and New Hampshire’s business friendly attitude made the difference.”

The company continues to working with Michael Bergeron on securing Enterprise Revitalization Zone tax credits. The program is an incentive for businesses to create new jobs.  With the Economic Revitalization Zone Tax Credits (ERZ Tax Credit) Program, a company may be eligible for tax credits to be used against their Business Profit Tax and Business Enterprise Tax in a qualifying Economic Revitalization Zone Tax Credits (ERZ Tax Credit) Program project.

For more information on Vaupell, go to www.vaupell.com.