Home » Opinion » Editorials
Business breaks: Hassan cozies up
In her budget proposal on Thursday, Hassan presented the image of a state in which business owners and would-be business owners really wanted to expand, grow and hire people, but were held back by the refusal of the state to help them.
"There are many businesses looking to expand or move to New Hampshire; existing businesses who could use targeted tax credits to develop new products; entrepreneurs who, with just a little guidance, are ready to turn a creative idea into a burgeoning business," she said.
"I have seen these stories throughout New Hampshire, and I know that our business community is ready to lead the way to a more innovative economic future - if their elected officials are ready to stand by them."
It was patent nonsense, but how else could the governor justify subsidizing businesses when she has to raise taxes and sell casino licenses to make ends meet?
The first item on her business agenda was the "targeted tax break" known as the research and development tax credit. The state offers a total of $1 million in chunks of up to $50,000 to manufacturers who invest in research and development. Hassan advocated doubling that to $2 million, and the Senate already has passed a bill to do so.
Manufacturers, of course, will invest in research and product development anyway. And all non-manufacturing businesses, which are the vast majority of New Hampshire businesses, will subsidize that investment.
Hassan proposed spending more on the state's "business incubators," where fledgling entrepreneurs can get guidance and advice. The people are perfectly capable of starting businesses without the guiding hand of the state. In addition, the U.S. Small Business Administration already provides advice through its SCORE program. And some non-profits offer business incubation services.
Hassan also pushed for spending more money on the state's international trade office. This, of course, involves all businesses in the state subsidizing those that engage in international trade.
The least bad part of Hassan's business agenda was her proposal to increase spending on travel and tourism promotion.
Though this also could be done by business associations rather than the state, it is at least arguably broadly beneficial.
The rest of her business agenda involves the state picking favorites in the economy. It was disappointing to see the governor choose to do that instead of spend those scarce resources on core government functions such as courts and public safety.
READER COMMENTS: 13
- Anti-SUV flop: Americans love utility - 7
- What Bartlett left: A Founding Father mostly forgotten - 1
- Hang Havenstein! He once quoted the President - 4
- Obama's priority: Raising money - 35
- Hey, bear: That ain't Fozzie - 0
- Obama's debt: His real legacy is coming - 12
- Paying for Medicaid: How will NH do it? - 42
- Into the woods: With knowledge and tools - 3
- Derry's brand: It is not 'Space Town USA' - 2
READER COMMENTS: 0
- Only a freshman, Kennedy excelled on the track - 0
- Looking Back With Aurore Eaton: The Manchester Opera House makes its stunning debut - 0
- Another View -- John Dumais: Mandatory GMO labeling is all cost, no benefit - 0
- What’s the rush? Executive Council follows Pelosi plan - 0
- On Baseball: Fisher Cats prove point - 0
- Evan Turner, Celtics see upside in new deal - 0
- Thunder take two from Fisher Cats - 0
- Ortiz, Drew (4 RBIs each) lead Red Sox hit parade against Blue Jays - 0
- Nashua settles suit over gas collection system - 0
Market Basket workers urged to 'shut it down'; deposed CEO urges fired workers be given jobs back
Shaheen's record: On insurance, it is dismal
Anti-SUV flop: Americans love utility
U.S. appeals courts issue conflicting rulings on Obamacare exchange subsidies such as NH's