IncentivesAs the business capital of a state with no personal income tax, no sales tax and low professional business taxes, Manchester offers unique advantages that can translate directly to your bottom line. With its dynamic, educated workforce and superb quality of life, expanding or relocating your business to Manchester just makes sense. If additional incentives are what you need, we've got some tools that will make sense too. Economic Revitalization Zone Tax Credits Program (formerly CROP Zone)
Seven census tracts in the City of Manchester have been designated as Economic Revitalization Zones (ERZ). New and expanding businesses within these zones, which include the Downtown, Airport and other key commercial and industrial areas, are eligible to apply for tax credits against the New Hampshire Business Profits Tax and/or the Business Enterprise Tax. Certification under this program is granted by the State of New Hampshire Department of Resources and Economic Development and extends for a five tax year period. For more information contact our team at 603.624.6505 or visit the New Hampshire Business Resource Center Incentives page here. Research and Development Tax Credit
The New Hampshire Job Training Fund makes up to $1 million available in matching grants to companies for training new workers or retraining existing employees. The program is designed to provide New Hampshire companies with the resources to grow their business and retain employees. Click here for more information. Tax Reduction for Insurance Companies
The State of New Hampshire has reduced the state's insurance premium tax from 2% to 1%, thus reducing the overall premium taxes paid by companies doing business in New Hampshire, as well as decreasing the burden of retaliatory taxes paid by New Hampshire's domestic insurance companies in other states. Visit the New Hampshire Insurance Department Web site for more details and click here to download more information on the insurance premium tax. Community Revitalization Tax Relief Incentive Program
This program encourages reinvestment in existing buildings within the downtown area by allowing qualifying property owners to avoid taxes on the value of improvements made to their properties for a certain period of years. To qualify, properties must be located within the designated downtown area, the value of the rehabilitation must equal at least 15% of a building's pre-rehab assessed value or $75,000 (whichever is less), and must be consistent with Manchester's master plan and development regulations. Click here to download an application. For more information, contact our team at 603.624.6505. City of Manchester Revolving Loan Fund (RLF)
The City of Manchester's Office of Economic Development provides financing assistance to businesses for the purpose of creating or retaining jobs in the City. Loans of $10,000-$50,000 may be made for working capital, while loans in the amount of $10,000-$100,000 may be granted for fixed asset acquisition and capital improvements. Click here to download an application. For more information, contact our team at 603.624.6505. Neighborhood Facade Improvement Program
The City of Manchester provides matching grants of up to $5,000 per building or $3,500 per retail space for businesses in targeted neighborhoods for visible exterior improvements. Click here to download an application or for more information, contact our team at 603.624.6505. Section 108 Loans
This federal program, administered by the City of Manchester, provides low-interest loans for qualifying economic development initiatives. Contact our team at 603.624.6505 for more information. Workforce Development Training Fund
This program provides companies up to $7,500 in matching grants in an 18-month period to train newly-hired employees to foster business growth and competitiveness. The program also allows for skills upgrade training of current workers who need retraining to ensure ongoing employment. Under the program, companies can apply to receive a grant that pays up to 50 percent of the cost of a training program for their employees. All New Hampshire companies that regularly pay into the state's Unemployment Compensation Fund, including non-profits, are eligible for these grants. The program is administered by the New Hampshire Workforce Opportunity Council. Visit www.NHJobTrainingFund.org for information and applications.
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