Mike Cote's Business Editor's Notebook: We're rich; We just don't know it
Above, BJ Lanigan of Concord, who's a third-generation machinist at DEKA, works at a milling machine at the company's Manchester Millyard headquarters. UNION LEADER FILE At left, floor-to-ceiling windows and a two-story atrium greet customers in the lobby of the new St. Mary's Bank, which opened for business in July. UNION LEADER FILE
We're talking about you, Manchester-Nashua.
The Queen City/Gate City metropolitan area - let's call it QC/GC - was named the ninth-richest in the country on Wednesday by the Wall Street Journal website marketwatch.com. Now QC/GC can brag about how it gets to hang out with San Jose, Calif.; Washington, D.C.; Bridgeport, Conn.; San Francisco; Boston; Oxnard-Thousand Oaks-Ventura, Calif.; Anchorage, Alaska; and Honolulu, which made up the top eight, respectively.
To celebrate, we suggest QC/GC book a flight around the world with Intrav, which has scheduled a "cultural tapestries journey" by first-class private jet for May 3-27. Guests will visit such fascinating places as Paris, Istanbul, Beijing and Tokyo.
We realize that's a bit pricey even for QC/GC, which will have to save up for a couple of years for that kind of trip. The Marketwatch report cited a median income for the Manchester-Nashua area of $69,089.
While being ranked as the ninth richest metro area for Manchester-Nashua won't solve the state's struggle to maintain its "New Hampshire advantage" reputation, it does cap the year on a high note. Here are a few more bright spots culled from the business news of 2013 in the New Hampshire Sunday News and the New Hampshire Union Leader.
The Granite State has plenty of bright ideas.
The Manchester-Nashua area's combined 357 patents in 2011 made the area one of the most invention-rich communities in the country, according to research by the Brookings Institution released on Feb. 1.
Housing market rebound
Home sales increased more than 10 percent ahead of the first 11 months of last year, the New Hampshire Association of Realtors reported this month. The 14,052 homes sold through the end of November represents the first time the 14,000 barrier has been surpassed in a calendar year since 2005.
The Granite State's growing reputation as a hub for high-tech companies was underscored when Manchester Millyard juggernaut Dyn doubled the size of its stylish complex, a $1 million project that added another 60,000 square feet. Over the past decade, Dyn grew from fledgling startup to a fast-growing company that employs nearly 280 people, most of whom work at the Queen City campus.
In September, Enterasys Networks, the only remaining independent offshoot of Cabletron Systems, was acquired by Extreme Networks of San Jose, Calif., in a $180 million cash transaction. Enterasys employs about 900 workers and is based in Salem.
We've probably had more stories and photos about breweries on the pages of this newspaper over the past year than at any other in its 150-year history. The Granite State's craft brew industry has been attracting new players and prompting veterans to expand operations. New Hampshire is now home to about 20 craft beer makers and a dozen brew pubs.
Mike Cote is business editor at the Union Leader. Contact him at 668-4321, ext. 324 or firstname.lastname@example.org.
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