New Hampshire offers a variety of incentives aimed at encouraging business growth, job creation, and innovation within the state.  These programs target industries such as manufacturing, technology, clean energy, and more, providing businesses with valuable resources to reduce costs, expand operations, and invest in the future.  Below are some of the key business incentives available in New Hampshire.

New Hampshire Economic Development Incentive Program (EDIP)

Overview

The New Hampshire EDIP is designed to encourage business expansion and the creation of quality jobs in the state.  The program provides businesses with a range of incentives, including grants, tax credits, and loan programs, to support economic development in New Hampshire.

Eligibility

• The business must create new, full-time jobs in New Hampshire.

• The business must make a substantial investment in infrastructure, equipment, or facilities.

• The business must meet specific wage and benefit requirements set by the state.

Incentive Value

• Businesses can receive grants to offset expenses related to capital investment, job creation, and training programs.

• Tax credits and exemptions are available for sales tax, business profits tax, and business enterprise tax.

Application Process

Businesses must apply through the New Hampshire Department of Business and Economic Affairs (DBEA), providing a detailed plan for their expansion and job creation activities.

New Hampshire Business Profits Tax (BPT) and Business Enterprise Tax (BET) Credits

Overview

New Hampshire offers a range of tax credits for businesses to reduce their liability under the BPT and BET.  These credits are aimed at incentivizing job creation, investment, and innovation in the state.

Eligibility

• The business must be subject to the BPR or BET.

• The business must meet specific criteria, such as job creation, capital investment, or research and development activities.

Incentive Value

• The program provides credits that can be used to offset BPT or BET liability.

• Credits are available for businesses involved in various activities, including manufacturing, research and development, and workforce training.

Application Process

Businesses must apply through the New Hampshire Department of Revenue Administration (DRA), providing documentation of their activities and compliance with program requirements.

New Hampshire Renewable Energy Fund (REF)

Overview

The New Hampshire REF program supports the development of renewable energy projects throughout the state.  This program is designed to promote clean energy production, reduce dependence on fossil fuels, and create sustainable energy solutions for businesses.

Eligibility

• The business must invest in renewable energy projects, including solar, wind, or biomass energy systems.

• The project must be located in New Hampshire and must meet specific environmental and energy efficiency standards.

Incentive Value

• The program offers grants to offset up to 50% of the cost of renewable energy projects.

• Additionally, the program provides tax credits and sales tax exemptions for renewable energy equipment and installations.

Application Process

Businesses must apply through the New Hampshire Public Utilities Commission (PUC), providing a detailed project proposal and budget for their renewable energy project.

New Hampshire Community Development Finance Authority (CDFA) Tax Credits

Overview

The CDFA offers tax credits to businesses that contribute to community development projects in underserved areas.  This program is aimed at stimulating economic growth and revitalizing communities across the state.

Eligibility

• The business must contribute to a qualified community development project in an underserved area.

• The project must focus on creating jobs, improving infrastructure, or enhancing local amenities.

Incentive Value

• The program offers a tax credit of up to 75% of the value of the business’s contribution to the community development project.

• The tax credit can be used to offset a variety of state taxes, including the BPT, BET, and Insurance Premium Tax.

Application Process

Businesses must apply through the CDFA, submitting a proposal for the community development project and details of their financial contribution.

New Hampshire Film Tax Credit

Overview

New Hampshire offers a Film Tax Credit to encourage film production in the state.  The program provides financial incentives to companies involved in producing films, television shows, and digital media projects within New Hampshire.

Eligibility

• The business must be engaged in the production of a feature film, television show, commercial, or digital media project.

• The production must take place in New Hampshire, and the business must meet certain spending and job creation requirements.

Incentive Value

• The program offers a credit of up to 25% of qualified production expenditures incurred within the state.

• The credit can be applied to a variety of production-related expenses, including equipment, wages, and services.

Application Process

Businesses must apply through the New Hampshire Division of Economic Development (DED), providing a production budget and documentation of eligible expenses.

New Hampshire Angel Investor Tax Credit Program

Overview

The New Hampshire Angel Investor Tax Credit Program is designed to encourage investment in early-stage businesses by providing tax incentives to angel investors.  This program is aimed at supporting startups and entrepreneurs in the state, particularly in high-tech and innovative industries.

Eligibility

• The investor must contribute funds to a qualified New Hampshire business.

• The business must be involved in an innovative industry, such as technology, biotechnology, or clean energy.

Incentive Value

• The program offers a tax credit of 50% of the investment made in the qualifying business, up to $250,000 per investor.

• The credit can be applied to offset the investor’s New Hampshire income tax liability.

Application Process

Investors and businesses must apply through DBEA, submitting an investment agreement and business plan.

New Hampshire Job Training Fund

Overview

The New Hampshire Job Training Fund provides financial assistance to businesses that train their employees in specific skills that are critical to the success of the company.  The program is designed to help businesses improve productivity, efficiency, and competitiveness.

Eligibility

• The business must be located in New Hampshire and employ at least one person.

• The training must be related to improving the skills of the workforce, including new technologies, processes, and systems.

Incentive Value

• The program offers grants of up to $500,000 for workforce training programs.

• The grants can be used to cover up to 50% of training costs, including instructor fees, materials, and training-related travel expenses.

Application Process

Businesses must apply through DBEA, submitting a detailed training plan, including the objectives, timeline, and expected outcomes.

New Hampshire Research and Development (R&D) Tax Credit

Overview

New Hampshire provides a R&D Tax Credit to businesses engaged in research and development activities.  This credit is designed to encourage innovation and the development of new technologies and products.

Eligibility

• The business must be engaged in qualified research activities within New Hampshire.

• The business must incur eligible R&D expenses, such as wages for researchers and costs associated with materials and equipment.

Incentive Value

• The program offers a credit of up to 10% of qualifying R&D expenditures.

• The credit can be used to offset the business’s BPT or BET liabilities.

Application Process

Businesses must apply to DRA, providing documentation of R&D activities and expenses.

New Hampshire Opportunity Zone Program

Overview

New Hampshire offers tax incentives for businesses that invest in designated Opportunity Zones throughout the state.  These zones are targeted for economic development and revitalization, and the program aims to attract investment in underserved areas.

Eligibility

• The business must invest in real property or equipment located in a designated Opportunity Zone.

• The business must meet job creation and investment criteria set by the state.

Incentive Value

• The program offers a variety of incentives, including tax credits, property tax abatements, and sales tax exemptions.

• The specific incentives depend on the type and scale of the investment.

Application Process

Businesses must apply to DED, providing information about their investment plans and the expected economic impact.