Office of the Governor: New Hampshire Named One of the Top 10 Hi-Tech Friendly States
- Report States NH Is Doing A Good Job of Fostering Technology, Innovation

FROM THE OFFICE OF THE GOVERNOR

June 20, 2008

Contact: Communications Director
Office of the Governor
603-271-2121


CONCORD - A California-based think tank says New Hampshire is doing all the right things to grow its hi-tech industry.

The Milken Institute, a non-partisan, independent think tank, released its index listing the states best able to achieve high-quality economic growth thanks to its technology and science assets. New Hampshire was ranked ninth in this year’s report. In 2004, the last time the index was released, New Hampshire was ranked 12th.

“This report confirms what we already know - that New Hampshire is a great home for high tech. And as I travel across New Hampshire, I see innovative companies that are seeking educated, skilled workers and are ready to grow,” Gov. Lynch said. “As Governor, I will continue working to build New Hampshire’s economy and grow the high-tech sector, along with the jobs and businesses of tomorrow.”

Gov. Lynch has led on several key issues the Milken Institute recognized as important to growing the hi-tech sector. The Governor made it a priority last year to create the Research and Development Tex Credit, which will allow companies to reinvest in their product lines, create new ones and expand their business.

Gov. Lynch also made reinstating the Job Training Fund a priority. This matching grant program provides up to $1 million a year for companies to use to train and retrain workers. This important partnership is helping to ensure New Hampshire has the skilled, educated workforce it needs.

Since December, about 30 companies from across New Hampshire have received more than $800,000 in state grants. And nearly 1,300 New Hampshire workers are currently receiving training.

“This is significant news and a true testament to the innovative nature of our state’s business and work force. At the state level, we will continue to work even harder to further nurture an atmosphere where high technology companies can grow, thrive and succeed,” said New Hampshire Division of Economic Development Director Michael Vlacich. “With fresh new economic development tools like the Research & Development tax credit, the Enterprise Revitalization Zone tax credit and the New Hampshire Job Training Fund, our state is well positioned to continue its ascent toward the top of the Milken Institute list.”

“I’m not surprised by this ranking,” said New Hampshire High Technology Council President Fred Kocher. “New Hampshire is a technology state, but many people don’t realize that fact. In actuality, high tech accounts for one-third of our state’s gross state product. That statistic, along with studies like this, will let the world know about our state’s high tech entrepreneurial nature.”

The Milken Institute report highlighted the need for states to attract and retain skilled, educated workers.

The report also stressed the importance of ensuring young people are getting the educational opportunities they need to succeed in the hi-tech sector.

Gov. Lynch has worked to help more of our kids graduate from high school, by not letting them walk out of the school house door at 16 and offering more alternative education programs for students so they can get the education they need to get good jobs and live better lives. Also, the current state budget increased funding for the university and community college system to help make higher education more accessible.

“The number of high-tech jobs in New Hampshire continues to grow each year. We must ensure we are taking the necessary steps to foster that growth - and that’s exactly what we’re doing,” Gov. Lynch said.