New Hampshire’s First ED Plan Focuses on the New Economy

Earlier this month Governor Jeanne Shaheen released New Hampshire in the New Economy: A Vision for Expanded Prosperity, the first-ever comprehensive economic development plan for the State of New Hampshire. The plan calls for New Hampshire state government to focus its activities toward encouraging innovation, strengthening education and workforce development, retaining and protecting the quality of life, and extending economic opportunity to every citizen in every part of the state.



The plan’s 39 recommendations are divided among six categories. Specific recommendations relating to tech-based economic development are highlighted below.



Maintaining A Strong Economy

• Develop a long-term integrated approach to supporting new economic activity, while maintaining support for firms in traditional industries.
• Develop a long-term strategy to encourage more investment in Research and Development, technology transfer, and support for initiatives such as the New Hampshire Manufacturing Extension Partnership and New Hampshire Industrial Research Center.
• Work specifically with small businesses to help them expand their market opportunities, obtain venture capital and benefit from technology transfer.
• Encourage venture capital investment in a range of business sectors, and more in-state venture investment.

Developing a Globally Competitive Workforce

• Identify ways to increase support for the University and Community Technical College Systems to make higher education more affordable and accessible to New Hampshire residents and increase the likelihood that New Hampshire will retain talent that may otherwise be persuaded to leave the state.
• Provide opportunities for lifelong learning through continuing education and training programs.
• Improve K-12 math, science and technology education so that more students will have the option of pursuing technology careers.

Addressing Economic Disparities

• Encourage development programs with financial incentives such as the Community Development Finance Authority, Community Development Block Grant program and the Business Finance Authority to give priority to projects aimed at economically disadvantaged regions and populations.
• Increase access to education and job training programs to increase the overall educational attainment and skill level of underemployed and lower income residents.
• Support efforts that encourage women to own businesses, receive fair pay and become economically self sufficient. 

Encourage the development of organizations such as the Women's Rural Entrepreneurial Network.

Integrating Telecommunications

• Encourage public/private consumer aggregation partnerships to attract advanced telecommunication infrastructure investment and reasonably priced access in the northern, western and other rural parts of the state.
• Continue to use economic development funding to stimulate private investment in broadband infrastructure in rural areas.

Additional categories include Preserving Our Quality of Life and Place and Investing in Essential Infrastructure.



While releasing the plan earlier this month, Governor Jeanne Shaheen also announced that she will soon name a New Hampshire Economic Advisory Council to advise the Governor on continuing implementation of the plan’s recommendations.



More than 500 businesses and households provided input in formulating the plan’s recommendations.



Support for the plan’s two-year development came from a $100,000 grant from the U.S. Department of Commerce. A copy of New Hampshire in the New Economy can be downloaded from: http://www.state.nh.us/governor/neweconomy.html