Emily Corwin reported on economics for the StateImpact New Hampshire blog until the project merged with the New Hampshire Public Radio site in July 2013. She is now NHPR’s Seacoast Reporter. You can follow her on Twitter at @emilycorwin, and find her stories on NHPR.org.
Patrick Clark of Burstpoint Networks speaks with Jamie Coughlin before the event.
From 11:15 to noon today, three leaders of innovation and business in New Hampshire will be discussing employee and business recruitment in the state. We’ll be liveblogging the event, as part of our ongoing coverage of New Hampshire’s simultaneously shrinking workforce and growing tech sector.
The speakers are: Patrick Clark of Burstpoint Networks, a Massachusetts tech company that recently expanded to Merrimack, NH; Jamie Coughlin, CEO of abi Innovation Hub in Manchester; and Marie Josee Vaillant of Kheops International, a wholesale gift company in Colebrook. Continue Reading →
In 2011, people ages 22-24 made up only 5.2 percent of New Hampshire’s workforce, but 11.7 percent of the state’s new hires. Those between ages 25 and 34 made up 22.4 percent of new hires — a share 4.2 percent larger than their share in the existing workforce. This, writes Brian Gottlob on his blog Trend Lines, could mean any number of things:
It could be evidence of a “skills gap,” in that older employees aren’t trained to do what today’s businesses need.
It could be that companies are hiring young people in greater numbers because they are cheaper when it comes to both salaries and benefits.
It could be that the kinds of businesses that are growing have a particular demand for younger workers (perhaps Gottlob is thinking of New Hampshire’s growing tech sector).
A new law that went into effect in August made New Hampshire the first state in the country to recognize “nanobreweries” as a separate category of brewery. Now, nanobreweries can be licensed at a much reduced rate of $240, rather than the microbrewery license of $1200. According to the Union Leader, this has facilitated the opening of at least three new nanobreweries in New Hampshire — Earth Eagles Brewings in Portsmouth, Blue Lobster in Hampton, and Throwback Brewery in North Hampton.
“We’ve been trying to keep six taps on since we started, but we’ve had a hard time doing that because we’re selling out of everything,” Alex McDonald, who is co-owner of Earth Eagle Brewings, told the Union Leader. Read more!
A recent report from the Center for Public Policy Studies was uncharacteristically ominous, warning that the state is entering an “uncertain time,” and that the New Hampshire advantage “is withering away, and may erode further in years to come.”
Dennis Delay, the report’s author, is referring to the state’s slow economic recovery compared to its neighbors; shrinking workforce; reduced capital investment; and disappointing migration patterns.
The report itself warns of decreasing Federal support for state programs and potential job loss from unmitigated federal tax increases and spending cuts this January (aka “The Fiscal Cliff.”)
State Employees Association members demonstrate in front of the former Liquor Store 1 on Storrs St in Concord.
The State Employees Association has filed two unfair labor practices charges against the Liquor Commission.
The first one charges that the commission has begun denying part-time employees the increased pay that they had been receiving for work on Sundays and Holidays — something the SEA alleges is a breach of union contract.
The second of the two filings charges that four of the Liquor Commission’s five union stewards are facing intimidation and coercion in response to union activities.
Four dollars. That is what employees at Dyn have to pay for a breakfast burrito made with bacon smoked in North Country, peppers grown in Chester, and a host of other local ingredients. That is, if they mosey across the street from their offices to the Dyn Cafe – an at-cost farm-to-table operation that Dyn opened in July. Sadly for the rest of us, the cafe is employees only.
Kevin Donahue was Executive Chef at XO on Elm before Dyn recruited him to run the Dyn Cafe.
Administrative Specialist Amanda Murtha chats with colleagues at the Dyn Cafe.
Manchester’s Dyn, Inc has a farm to table menu for their employees
Dyn Cafe
Cafe employees take the order of a customer/colleague.
Dyn headquarters are across the street from the Dyn Cafe.
Dyn’s clients include Zappos, Twitter, Pandora, Netflix and Etsy.
Adam Coughlin, Dyn’s media and content coordinator, makes a choice from another employee’s candy drawer.
Dyn is an internet infrastructure company in Manchester with a workforce of 190 people. The company spends about $18,000 per year, per employee on benefits, from health insurance to free gym memberships, unlimited time off, an indoor climbing wall, and now – an at-cost farm-to-table cafe.
What’s in it for Dyn?
Dyn has an expanding list of clients like Netflix, Etsy and Pandora, and requires an ever-increasing workforce of software engineers, tech-savvy salespeople and more.
The problem is, New Hampshire’s workforce is aging and shrinking. Young people have always left the state for college or job opportunities, often heading to Massachusetts, New York, and the south Atlantic states. For the first time, the in-migration of 30 and 40-somethings is slowing. While New Hampshire saw a net in-migration of 10,681 people in 2001, the state experienced a net out-migration of 2,329 individuals in 2010.
In order to compete for some of the country’s most sought-after skills in a place that isn’t Boston, Silicon Valley, or New York, Dyn has had to get creative about recruiting and retaining talent.
The New York Times has published results from a 10 month investigation into the $80.4 billion that local and state governments spend on corporate subsidies. While many states spend many hundreds of dollars per capita on tax subsidies, free property, and other kickbacks, New Hampshire spends only $30 per capita, or a total of $39 million on such incentives.
The biggest winner when it comes to state tax incentives and government grants? $1.6 million to Foss Manufacturing, in Hampton.
Like New Hampshire, other states with modest subsidies, like Nevada and Wyoming, have low or no business taxes — which, the Times says, “can save companies even more money than tax credits.”
Gov.-elect Maggie Hassan and New Hampshire lawmakers are beginning to outline their priorities for the 2013-2015 biennial budget, led by a new Democratic majority in the state House. This week, two experts told a gathering of business leaders in Concord that restoring even some of the cuts made in 2011 will be difficult. Continue Reading →
By turning drink coasters into local advertising space, a self-described “coaster fiend” and her three friends are trying to promote local businesses, support charities – and create local jobs while they’re at it.
Here’s how it works:
LocalCoaster sells low-cost advertising to local shops like The RiverRun Bookstore on one side of a coaster.
On the flip side of the coaster, they sell higher-cost advertising to larger corporations – like Holloway Mercedes in Greenland.
The coasters are distributed to local restaurants for free.
The advertisers and restaurants vote on their favorite charities, online.
The winning charity collects the first $5,000 of ad revenue.
New Hampshire came in 14th in a list of “best run states in the nation,” compiled by the website 24/7 Wall St. The ranking was based on the following: each state’s debt; revenue; expenditure and deficit; taxes; exports; GDP growth; poverty; income; unemployment; high school graduation; violent crime; and foreclosure rates.
Here’s what they say about New Hampshire:
By many measures, New Hampshire is very well run. In 2011, the state had one of the highest median incomes in the nation and one of the country’s lowest unemployment and poverty rates, at 5.4% and 8.8% respectively. The state had one of the nation’s lowest tax burdens in 2010, with residents paying just 8.1% of income in taxes. New Hampshire’s tax structure is rated by the Tax Foundation as one of the nation’s most business friendly. However, the state still has difficulty managing its budget. New Hampshire had over $6,300 in debt per person in fiscal 2010, one of the highest rates in the country. The state’s pension liabilities were just 59% funded that year, also one of the lowest rates in the nation.
Debt per capita: $6,341 (7th highest)
Budget deficit: 27.2% (10th largest)
Unemployment: 5.4% (4th lowest)
Median household income: $62,647 (6th highest)
Pct. below poverty line: 8.8% (the lowest)
North Dakota was ranked as the best run state, and California as the worst. Nearby, Massachusetts came in 19th, and Maine 35th.
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