It Pays to Grow with Us
We want your business–that’s New Hampshire’s, and Dover’s, motto pure and simple. To that end, we do everything possible to encourage business startups, relocations, and expansions. A number of incentives make it easier than ever to do business here in Dover.
Revitalization Zone Tax Credits (ERZ)
Dover has qualified for five Revitalization Zones. As a result, businesses locating within these zones and bringing new jobs to Dover receive a tax exemption against the business profits and enterprise taxes. The tax credit can be up to $200,000 over a five-year period. (See separate page on ERZs)
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 existing business. It can also be a loan to the business itself. The maximum amount of funding available for any given project is $500,000, regardless of the 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 percent of the jobs created must be filled by people in low-income and moderate-income brackets.
Job Training Fund
This matching grant program is designed to enhance worker skills and help companies stay competitive in the global marketplace. It requires a minimum of a 50 percent cash match, but there is no cap on the amount of the grant.
Low Interest Loan Program Based on New Jobs
The State offers a low interest loan program through Citizens Bank that provides financing from $250,000 to $10 million, based on creating new jobs in the State. For every new job created, $40,000 can be allocated towards a loan for machinery, equipment, or buildings. The specified jobs must be created within three years after the funds are borrowed.
Research and Development Credit
During the 2007 session, the New Hampshire Legislature enacted a research and development credit, which can be used against business taxes paid to the state. Under the 2007 Laws of New Hampshire, Chap. 271, the Legislature has designated $1 million for each of the next five fiscal years to be available to fund the credit.