Economic Revitalization Zone Tax Credits

Economic Revitalization Zone Tax Credits

Program Name: Economic Revitalization Zone Tax Credits

Resource Type: Economic Development Entity

State: New Hampshire, Northeast

Agency: Program Source: Tax Incentive

Description: In an effort to encourage revitalization and create jobs, communities and employers may take advantage of New Hampshire’s Economic Revitalization Zone Tax Credits (ERZ Tax Credit) Program. Economic Revitalization Zone Tax Credits, which is a short-term, tax credit against the business profits and enterprise taxes. To qualify, a certain amount of capital investment must be made and the location must meet certain demographic criteria, or be in an unused or underutilized industrial park, or vacant land, or structures previously used for industrial, commercial, or retail purposes but currently not so used, or Brownfield site. The total amount of the credit is $200,000 over five years. It is a two-step process, whereby the municipality first applies for the designation based upon specific criteria, and secondly, a business applies for the actual tax credit.