Grafton County NH Economic Development Council - Incentives
Grafton County Economic Development Council
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In the News...


April 9, 2008
Lakes Region SCORE to Offer Course
Serving the southeast part of Grafton County, the Lakes Region Service Corps of Retired Executives (SCORE) is offering a April 29 workshop on starting a business. 

(more here)


April 1, 2008
GCEDC Celebrates Incubator Success
The Grafton County Economic Development Council (GCEDC) joined its economic development partner, North Country Council in celebrating an announcement that Mascoma Corporation had successfully found space to relocate within Grafton County’s Upper Valley area.  

(more here)

Incentives

Targeted Incentive Programs

  HUB Zone (Plymouth)

HUB stands for Historically Underutilized Business Zone. These designated areas are allowed federal contracting opportunities for the qualified small businesses located within them. The aim of HUB Zone contracting is to promote economic development and employment growth in distressed areas by providing access to more Federal contracting opportunities. The Town of Plymouth is currently the only HUB Zone within Grafton County.
More on HUB Zones here. 

EZ Tax Credit Program (Haverhill)

The Economic Revitalization Zone Tax Credits (EZ Tax Credit) Program is a new incentive for businesses to create new jobs. With the Economic Revitalization Zone Tax Credits (EZ Tax Credit) Program you may be eligible for tax credits to be used against your Business Profit Tax and Business Enterprise Tax in a qualifying Economic Revitalization Zone Tax Credits (EZ Tax Credit) Program project.
The Town of Haverhill is the only State recognized EZ Zone in Grafton County.  For more information on this program and how your investment in Haverhill can recieve tax credits, go here
The best incentives for your business to come to New Hampshire is our low taxes, educated workforce, and transportation infrastructure.  Here are some other incentives: 

 The Lowest Tax Burden in the Northeast

New Hampshire has one of the lowest tax burdens in the country - NO sales tax, use tax, broad-base income tax, capital gains tax or inventory tax and NO higher assessment for commercial or industrial real estate. For a state by state comparison of taxes (and other statistics), check out the State of New Hampshire's Business Resource Center.

The Community Development Block Grant Program

This program (also referred to as 'CDBG') provides federal funds to local governments.  They, in turn, distribute these funds as loans to job-creating businesses.  Funds must be used to create jobs, mainly for people from a low to moderate income background.  In Grafton County, municipalities and the county use the GCEDC as a manager of these loan funds.  For more information on the CDBG program, contact the GCEDC's Loan Officer, Bob Walker.

Economic Development Loans

The GCEDC partners with bank lenders to provide loans to businesses in need. For more information, see our "Loans" section.

 NH Job Training Fund

Talent development is a major component of New Hampshire's economic vitality, and businesses large and small realize the importance of a skilled and educated workforce.That's why the New Hampshire Job Training Fund was created – to enhance worker skills and to help New Hampshire companies stay competitive in the global marketplace. Private businesses located in New Hampshire, and businesses intending to locate in the State and who elect to pay into the unemployment trust fund are eligible for the Job Training Fund.   www.nhjobtrainingfund.org

 New Markets Tax Credits

The New Markets Tax Credit program allows a taxpaying entity to receive a credit against Federal income taxes for making qualified equity investments in designated Community Development Entities (CDE). Consequently all of the qualified equity  investment must in turn be used by the CDE to provide investments in low-income communities. More on the Tax Credit program here. Our partners at Northern Community Investment Corporation have $1 million in credits to distribute. You can contact them for more information.

Tax Increment Financing

Tax Increment Financing (or TIF) is a financial option in which  future gains are used in tax form to finance the current improvements that will create those  gains. TIF creates funding for public projects that might be unaffordable to some locals. For example, when a public project is carried out, the surrounding real estate is increased in  value and often new investment (new or rehabilitated buildings). The increased site value and investment creates more taxable property, which inturn increases tax revenues. These increased tax revenues are referred to as "tax increments". TIF takes the increased revenue  and uses it to finance the debt issued to pay for the project. More on TIF's here.