Boost the Struggling Coos County Economy: The Coos County Tax Credit will encourage businesses to locate and create good-paying jobs in Coos County. It is designed to help create greater, more rapid job creation in the North Country and help overcome some of the unique barriers that prevent businesses from locating in Coos County.

In Coos County, average wages are significantly lower, the unemployment rate is much higher and economic growth is expected to lag behind the rest of the state.

Create Good-Paying Jobs in Coos County: Businesses will receive a $1,000 tax credit each year for every new full-time, year-round job they create that pays at least twice the minimum wage. Both new businesses and existing businesses will be eligible for up to five years of tax credits per job created.

Gives Businesses a Significant Incentive to Create Jobs in Coos County: The Coos County Tax Credit will provide a significant incentive for businesses to create jobs in Coos County, helping overcome some of the unique barriers to job creation that the region faces. Businesses will be able to apply the tax credit to the Business Enterprise Tax, and any unused portion to the Business Profits Tax. A carry forward provision allows businesses to apply any unused portion of the credit to year 2,3,4 or 5. The credit cannot be carried forward beyond five years. The tax credit is temporary and sunsets on January 1, 2013.

Protects Existing Jobs: The credit is structured to protect existing jobs. For example, a company in Nashua cannot move jobs to Berlin and receive the credit; an existing Coos County company cannot lay off their workforce, create a similar company and shift their workers to be eligible for the credit.