business tax incentives

 

Newport is open for business! Newport is a great choice for your next investment for several reasons. Our community offers competitive tax incentives, a skilled workforce, low cost of living, robust arts and cultural attractions, and access to world-class education and healthcare. Newport is a regional hub for a variety of industries including manufacturing, financial services, government, and construction. Contact us to learn more!


  • Opportunity Zone: The Opportunity Zone Program is a federal initiative created to stimulate private investment in designated communities in exchange for capital gain tax incentives. Investments in commercial development, new jobs, or housing in Newport are eligible.


  • Economic Revitalization Zone Program (ERZ): The ERZ tax credit program, which is detailed in RSA 162-N, offers a short term business tax credit for projects that improve infrastructure and create jobs in designated areas of a municipality.


Newport areas eligable for the ERZ tax credit program:

  1. North Main Street United Construction Site 
  2. Bald Mountain TIF District 
  3. Newport Mills 
  4. Arlington Sample Brook Property 


  • Tax Increment Financing (TIF): Tax Increment Financing (TIF) is a method of financing public improvements with the incremental taxes created by new construction, expansion, or renovation of property within a defined area of the community.                                    Learn more about Tax Increment Financing -  https://www.nh.gov/osi/planning/resources/tif.htm 

 

Contact:

Newport Economic Development

15 Sunapee Street, Newport, NH 03773

cmorrison@newportnh.gov

(603) 344-6278

RSA 72:81 Property Tax Incentive - Overview (pdf)

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RSA 79-E Property Tax Incentive - District Map (pdf)

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RSA 79-E Property Tax Incentive - Overview (pdf)

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Economic Revitalization Zone - Application for Businesses (doc)

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Economic Revitalization Zone - FAQ for Business (pdf)

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Economic Revitalization Zone - FAQ for Business (doc)

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Tax Increment Financing - What is TIF? (pdf)

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Opportunity Zone Program - Overview (pdf)

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