We should invest in start-ups
New Hampshire’s economy continues recover at a steady pace, which is why we must continue to be focused on job creation and economic growth through creating economic opportunity by supporting business growth and innovation.
Which is why I have cosponsored SB255, this creates an incentive to invest in New Hampshire start-ups and high-growth potential small businesses by applying a tax credit against the Interest and Dividend tax for qualifying investments. Many other states have or are considering similar incentives to stay competitive in attracting entrepreneurs and fostering the growth of small businesses with job creation and economic development potential.
The tax credit will create tremendous leverage, drawing in many multiples of private investment for a total program that is capped at $2 million — it gives a meaningful incentive to keep us competitive with other states for investment funds while being fiscally responsible. This would be very helpful to Monadnock area start-ups to help foster small business growth locally.
We must also maintain our commitment to higher education and job training in order to attract innovative businesses, help existing companies grow, and support the creation of good jobs for New Hampshire’s middle class families with job training grants. These are grants awarded to New Hampshire companies to help them train workers in new skills. In addition to New Hampshire’s Job Training, we made great progress this Legislative session by fully restoring investments in the community college system and freezing tuition levels. This makes higher education more affordable for New Hampshire residents and allows them to learn essential skills, which is a critical part of our efforts to continue developing a highly skilled workforce.
If we pass SB255 and maintain our commitment to higher education and job training, we will ensure businesses will be in a strong position in the coming years.
Senator Peggy Gilmour (D-Hollis) represents District 12 in the State Senate, which includes Brookline, Greenville, Hollis, Mason, New Ipswich, Rindge, and Wards 1, 2 and 5 in the City of Nashua.