The term "Yankee frugality" is more than a marketing position statement, it's a way of life in New Hampshire, a state where rugged self determination rules. New Hampshire citizens are entrepreneurs and self-starters, pioneers who embrace a hard day's work and the opportunity to live in a state which celebrates independent thought.

This spirit extends to state government as well. New Hampshire won't offer companies relocating to the state excessive tax subsidies or sweet financial deals that result in a diminished quality of life for its citizenry.

"In New Hampshire, we view things quite differently," said New Hampshire Business Resource Center Business Development Manager Michael Bergeron, one of the state's two business recruiters. "We tell companies that it's not what we give you when you get here, it's what we don't charge you when you get here. The proof is in the numbers." With a low tax structure and responsive state government that can cut through the bureaucratic red tape that can delay projects, New Hampshire is an excellent location to create, expand or relocate a business. New Hampshire boasts one of the lowest tax burdens in the country - the Granite State features 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.

Here are some other incentive programs offered in the state of New Hampshire:

Revitalization Zone Tax Credits
This incentive is a tax credit against business profits and enterprise taxes. To qualify, the location must meet certain demographic criteria, or be in an unused or underutilized industrial park, vacant land, structures previously used for industrial, commercial, or retail purposes but currently not so used or Brownfield site.

Community Development Block Grant
This assistance can be in the form of a grant to the municipality for public infrastructure improvements on behalf of an expanding business or a loan to the business itself. The maximum amount of funding available for any given project is $500,000, regardless of size of the community applying for the grant. All grants are one-year duration, and one job must be created for each $20,000 in CDBG funds granted. The key to this federal program is that a minimum of 60% of the jobs created must be filled by low and moderate-income persons.

Job Training Fund
This matching grant program designed to enhance worker skills and help companies stay competitive in the global marketplace requires a minimum of 50 percent cash match.

Low Interest Loan Program Based on New Jobs
The State of New Hampshire offers a low interest loan program through Citizens Bank that provides financing from $250,000 to $10 million. The loan is based on creating new jobs in New Hampshire. For every new job created, $40,000 can be allocated towards a loan for investments in machinery, equipment and buildings. The interest rate is offered at 5.50%. The specified jobs must be created within three years after the funds are borrowed.

Energy Efficiency Loans
In cooperation with Ocean Bank, New Hampshire offers a low interest loan (1% below prime) for the purchase of new energy efficient equipment. The state also offers free site visits to determine a strategy for improving energy efficiency, free industrial assessments to eligible small and medium-sized manufacturing plants, and research connections with university faculty for energy related projects.

Research and Development Credit
During the 2007 session, the Legislature enacted a research and development credit against business taxes paid to the state of New Hampshire. Under the 2007 Laws of New Hampshire, Chap. 271, the Legislature has designated $1,000,000 for each of the next 5 fiscal years to be available to fund the credit.

New Hampshire Innovation Research Center (NHIRC)
The IRC's mission is to assist New Hampshire industry in becoming more competitive, and thereby retain and increase industrial employment. By providing state support and cooperation, the 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 in New Hampshire.

For more information about any of these incentives, visit www.nheconomy.com.