Startup company aims to spotlight Granite State businesses
Anthony Comito thinks so, and he's basing a new business on that idea — the Economic Information Exchange Co. The Goffstown native has developed a system for assessing the economic impact that certain purchases can have on a particular state or the nation as a whole.
"We look at the portion of the purchase price that's going toward things like labor in the state," he said. "We also look at the components and where they come from, the level of charitable contributions in the state and taxes paid. There are some weighting factors that go into it. A dollar spent on New Hampshire components or New Hampshire labor will yield higher points than charity and taxes."
"You can't grow bananas in New Hampshire," he said, "so you don't want to punish a restaurant that has banana pudding."
A recent graduate of UNH with a B.A. in communications and a minor in business, Comito is pursuing a second bachelor's degree at SNHU and working toward his CPA designation, while living in a Manchester apartment and surviving on earnings from the last tax season.
"I truly believe we have one of the most innovative economic tools in recent memory," he said.
His most likely customer is a business that knows it has strong connections to the state's economy and wants to leverage that fact in its marketing efforts.
"It's going to be tough to find a five-star rating," he said. "And the value of the system will grow as there are more and more products to compare."
"The reaction has been good," he said. "Everyone says it's going to be tough, but people really like the idea."
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