Major Economic Resources and Initiatives
Portsmouth has many unique assets, including its role as NH's only deep-water port and its central role as a high-tech hub for northern New England. The City's economic resources include:
The e-Coast moniker describes the vital role software, hardware, web design and e-commerce companies have come to play in the economic landscape of the City and region. The e-Coast began under the leadership of the Greater Portsmouth Chamber of Commerce a Technology Roundtable comprised of volunteers from high-tech with businesses joining together to promote the future success of this powerful economic sector. The e-Coast's Technology Roundtable works to attract new business to the area and establishes guidelines for managed growth. It also addressees infrastructure and communications bandwidth issues, and fosters efforts to recruit, train, and retain qualified technology workers.
(Please visit http://www.ecoast.org/)*
Portsmouth Naval Shipyard
Located in Kittery, Maine just across the Piscataqua River from Portsmouth, the Shipyard is a major overhaul and refueling facility for all classes of submarines and has recently been strengthened by its position as one of only four U.S. Navy bases capable of housing nuclear submarines. The Shipyard has a military and civilian payroll of $417 million, and accounts for $16 million in purchases in the New England area and contracts for $75 million in facility services
(Please visit http://www.ports.navy.mil/factsheet.htm)*
Pease International Tradeport
The Pease International Tradeport, established following the 1990 closure of Pease Air Force Base is one of the most successful military base redevelopments in the country. The Pease Development Authority (PDA), has stewarded development at the Tradeport and local and state officials sit on the PDA's board of directors. A number of Portsmouth's largest employers are located at the Tradeport including several corporate headquarters, manufacturing, biotech, and information technology firms. New businesses can build structures suitable for their operations on leased property. The PDA is also charged with overseeing the operation of the Port of New Hampshire.
(Please visit http://www.peasedev.org)*
Pease International Airport
The airport at Pease is a tremendous asset to the region as well as the businesses located at the Port. The airport is growing and passenger service is expanding. Currently, passenger service is provided by Pan Am and ground support, maintenance, and repair is provided by Port City Air.
(Please visit http://www.peasedev.org/web/aviation/aviation.htm)*
The Port of New Hampshire
The Port of New Hampshire, located on the Piscataqua River on the Portsmouth side, is a source of great pride for the City of Portsmouth. The overwhelming desire to maintain a working port in the tradition of the City's past, and the Port's strategic location on a deep natural harbor, guarantee the future viability of the Port for international shipping. The Port uses co-exist with boating and commercial fishing. The Port has a 66' wharf (33'-35' water depth), 310' long barge pier (22' water depth), two warehouse structures ( approx. 50,270 s.f.), and container port operations.
The Port is one of 10 marine terminals located on the Piscataqua River. It serves as an important economic contributor to the State as it offers handling of specialized cargo, and cost-effective shipping and receiving. One estimate asserts that the Port is responsible, directly and indirectly, for upwards of 1,000 high quality jobs. A UNH-sponsored 1993 Economic Impact Analysis concluded that the Port had an annual economic impact of $56 million at that time. Four of the Port's main users include: Simplex Wire and Cable, ABB/Combustion Engineering, Chart Industries, and the University of New Hampshire.
(Please visit http://www.portofnh.org)*
Foreign Trade Zone (FTZ)
New Hampshire has one Foreign Trade Zone (FTZ No. 81, awarded by the federal government in 1982) consisting of five distinct sites, three of which are located in Portsmouth. Pease International Tradeport has 1,095 acres (including the airport), 10 acres are at the Port of New Hampshire, and 50 acres are at the Portsmouth Industrial Park on Lafayette Road. A Foreign Trade Zone (FTZ) is a site within the United States where items may be imported, stored and processed with deferral or elimination of customs duties and excise taxes. Firms operating in an FTZ are thus able to operate more competitively in the international market.
For more information on Portsmouth's Foreign Trade Zone, Pease International Tradeport, the Airport at Pease International Tradeport, and the Port of New Hampshire go to "International Business in Portsmouth" section.
Portsmouth has a youthful and technologically adept workforce. Many educational institutions, including the University of New Hampshire and a number of technical colleges, produce workers who thrive in the technologically and biologically oriented business climate that has characterized much of Portsmouth's new economic growth. According to the 2000 Census, showed over more than 40% of Portsmouth's residents had advanced degrees. Many of those and others are specially trained for careers in technological fields.
New Hampshire Tax Advantages
New Hampshire's tax structure is very business friendly. There is no sales tax, no use tax, no income tax, no capital gains tax, no inventory tax and no higher assessment for commercial or industrial real estate. There are loan guarantees and tax exempt financing for manufacturers.
For more information on New Hampshire's tax advantages please visit the New Hampshire Office of Business Development
Quality of Life
Portsmouth's quality of life is hard to beat. Professionals, especially young, entrepreneurial and highly skilled technical workers have been particularly attracted to all that Portsmouth offers. Portsmouth's working port combined with its natural landscapes, parks, and proximity to New Hampshire's lakes and mountains region means there is something for everyone here. Educational resources at all levels are of outstanding quality. Portsmouth's civic life, and arts and cultural resources are highly regarded throughout the state, New England and the Northeast.
(* The above external links are not related to the City of Portsmouth Website in anyway.)
Nancy M. Carmer
Economic Development Program Manager
City of Portsmouth, NH
1 Junkins Ave., Portsmouth,