New Hampshire
New Hampshire is a leader in research and development, measured as a share of Gross State Product, and the concentration of jobs in science, technology, engineering, and mathematics (STEM). The “Live Free or Die” state has developed an array of enterprise-friendly tax initiatives that promote research and development and is mobilizing a concerted, statewide effort directed at developing emerging high-tech businesses. Taxes and Regulation New Hampshire has one of the lowest tax burdens in the country. The state has no sales tax, use tax, broad-base income tax, capital gains tax, or inventory tax. To bolster research and development within the state, the legislature enacted a research and development credit that is applied against business taxes paid to the state of New Hampshire. In 2007 the Legislature designated $1,000,000 for each of the next 5 fiscal years to be available to fund the credit. Businesses that have expenditures during the fiscal year for qualified manufacturing research and development qualify for the incentive. “Qualified manufacturing research and development” expenditures are wages paid to employees of the business for services rendered within the state that qualify and are reported as a credit by the business. Workforce Development and Training New Hampshire Working is a three-part approach to help businesses during the economic downturn. Under the first part of New Hampshire Working, the state partners with businesses and workers to provide an alternative to layoffs. Companies and workers agree to reduced hours instead of layoffs, and the state makes up part of the lost wages for workers through unemployment benefits. Workers keep their jobs, their health insurance and most of their income and companies retain the skilled workers they need to recover. Taxpayers avoid increased costs as the demand for state services increases as unemployment rises. And, with more people working, the economy is stronger. The second part of the initiative reduces up front training costs for companies, often an impediment to hiring, and helps workers get new jobs. Unemployed workers are able to continue to receive unemployment benefits while participating in up to six weeks of on-the-job training at a potential new employer. Under the third part of New Hampshire Working, New Hampshire job agencies develop a plan for assessing the job skills of all newly unemployed workers. Workers then 56
New Hampshire Innovation Research Center NHIRC was created by the legislature in 1991 for the purpose of creating high quality jobs through technology development and innovation. NHIRC fosters collaboration between New Hampshire businesses and universities to promote applied and basic scientific research, engineering, and associated technology transfer. NHIRC’s goal is to assist New Hampshire industry in becoming more competitive and, thereby, retain and increase employment. NHIRC helps New Hampshire companies upgrade old products or develop new products. With NHIRC support, university-industry collaboration fosters innovation and helps to preserve and increase the number of jobs.
are able to take the results of those assessments to potential employers, giving business owners confidence that new hires will have the necessary skills. Entrepreneurship and Innovation The Office for Research Partnerships and Commercialization (ORPC) develops and manages the intellectual property portfolio of the University of New Hampshire (UNH). The mission of the ORPC is to build research partnerships that result in commercialization and economic development. The ORPC serves as the focal point for advocacy and support of UNH’s intellectual property and provides faculty and staff with information about and assistance with intellectual property protection by patent, copyright, or other means. The ORPC also facilitates transfer of University research results to the public by bringing scientists and the business community together in relationships of mutual advantage. ORPC provide focus and assistance statewide through the Innovation Research Center, a matching grant program funded by the NH Legislature.