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NH Division of Economic Development

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NH Division of Economic Development Promotes Benefits of Skilled Workforce, Job Training Grants for Business Relocation Assistance


Insurance companies and other businesses thinking about relocation or reincorporation in another state must factor a number of important considerations into their decision. Two of those include the quality of people in the labor market, and the types of financial assistance available to provide specialized training to new employees. Read on to learn how New Hampshire fares in both these areas.

Concord, NH, March 26, 2011 --(PR.com)-- New Hampshire’s highly skilled and educated workforce awaits companies looking to relocate – or redomesticate — to the state.

The NH Division of Economic Development, in its efforts to recruit businesses to the Granite State, is taking steps to spread the word about the quality of education in the state, grants toward specialized employee training, and job-matching programs for companies of all sizes.

***Higher Education***

Fully one-third of the NH population over the age of 25 has a bachelors degree or higher, which ranks the state in 8th place nationally, according to census data. New Hampshire features a range of higher learning experiences with its 26 colleges including the University of New Hampshire system and its network of community colleges, to private Ivy League schools like Dartmouth College.

Once these young adults graduate with degrees in hand, a Governor’s Task Force was created to look into keeping them in New Hampshire.

In July 2009, the Governor’s Task Force for the Retention of Young Workers released a report that made many recommendations on how efforts to attract and retain young workers could be advanced and why New Hampshire is well-positioned to be a place where these young workers would want to stay, work and play. The report was developed as a result of an Executive Order by Governor John Lynch in 2008 to create a Task Force to analyze the issue and develop recommendations for his consideration.

The result was the launch of Stay Work Play, established as a nonprofit organization to further the “55% Initiative,” and support and advance several Task Force recommendations. The new, independent organization runs the web site and associated marketing effort that targets the 20-30 year old demographic in terms of staying, working, and playing in the Granite State.

***Job Training Grants***

On top of this worker retention initiative, the state offers a number of programs that assist employers with job training and recruitment. One of them is the NH Job Training Fund – a matching grant program – created to help private businesses with their employee training needs.

NH Job Training Fund grants totaling more than $4 million have been awarded to date in amounts large and small. Recipients of $100,000 grants include some of the state’s most prominent businesses and employers, including Hypertherm in Hanover, IBM in Bedford, Stonyfield Farms in Londonderry, and General Electric in Hookset. To date, the funding paid for training of 8,907 employees.

Training programs may include structured, on-site laboratory or classroom training; basic skills; technical skills; quality improvement; safety; management and supervision; and English as a second language.

***Job Matching for Employers***

The State of New Hampshire Employment Security Department also offers a free service to assist employers with their staffing needs. The program, NH Works, is a free job match system for employers who are looking for candidates. Employers can search a database for matching candidates or post job openings.

The NH Works system, which is also a partnership between a number of government agencies and community organizations to provide services, resources and information to job seekers and employers, has helped connect thousands of people to fill positions within the insurance industry and dozens of other business sectors statewide.

***Positioning for Growth***

With the combination of the top-10 education level of the workforce, plus matching training grants for specialized needs and a job-matching system to fill positions with the right people, the Division has a solid foundation in place to focus on continued job growth in New Hampshire, helping to maintain its place as the state with the lowest unemployment rate in New England, and one of the lowest in the nation.

About the NH Division of Economic Development
The New Hampshire Division of Economic Development, comprised of the New Hampshire Business Resource Center and the International Trade Resource Center, offer resources to enhance the economic activities of the state through business attraction outreach, in-state business expansion efforts, and facilitation of government and international sales. To find out more about why New Hampshire’s low business tax burden and sales and income-tax free tradition makes it the “Most Livable State” in the nation, visit http://www.NHEconomy.com and check out their “No Bull” Business Blog at http://blog.NHEconomy.com. Stay connected to NH Economy’s opportunities, grants, and news on Facebook at http://Facebook.com/NoBullBusiness and http://Facebook.com/RedomesticateNH.

About the NH Insurance Department
The first insurance regulator in the US, the NH Insurance Department was created in 1851 and charged with enforcing and administering New Hampshire’s insurance laws. The department, an agency of the executive branch of New Hampshire state government, conducts safety and soundness and market conduct examinations of licensees, licenses insurance companies and insurance producers, reviews premium rates and policy forms, provides assistance, information and referral services to New Hampshire insurance consumers, and administers the filing and collection of New Hampshire’s insurance premium tax. For more information, visit the Insurance Department’s web site at: http://www.nh.gov/insurance.

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Contact Information
NH Division of Economic Development
Steve Boucher
603-271-2341
Contact
www.nheconomy.com
Michael Bergeron
Business Development Manager
NH Division of Economic Development
(603) 271-2591
mbergeron@dred.state.nh.us

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