The Hudson Economic Assessment is an analysis of the potential benefits and impacts of differing types of commercial and industrial development in select areas of town as well as the potential for future expansion of business and industrial uses. To assist policy makers, this report includes an analysis of existing business and industrial areas as well as future development potential with a primary goal of increasing the Hudson’s tax base.
Amherst Economic Development Public Outreach
Public outreach and analysis materials were developed to inform the Town of Amherst in the development of an Economic Development Vision. Using a variety of outreach methods, the Town of Amherst sought the input of residents, municipal officials, business owners, and other key stakeholders. The materials developed included posters displaying Amherst’s economic profile, marketing materials, and surveys.
The following four pilot projects were funded by Bar Harbor Bank & Trust, who purchased tax credits through the Community Development Finance Authority’s L5 Capacity program.
Many communities are leverging their assets and amenities to maintain and attract residents, workforce and new businesses. The Town of Wilton is using the Souhegan River, which powered the Town’s mills at the beginning of the 20th century, to fuel its economic future. In 2017, the Town of Wilton completed Phase I of its Riverwalk development. A July 2017 Plan NH Charrette identified access to the river as a major tool for Wilton’s economic development, as it could provide a safe pedestrian pathway connecting the town’s attractions from restaurants to shopping while providing pedestrian access to more recreation, and be an aesthetic draw. The charrette team proposed an extension of the Riverwalk including a pedestrian bridge. This report examines the feasibility and economic impacts of extending the Riverwalk, while also identifying implementation steps.
This analysis looks at some of the base data needed to assist with each of the community's goals with a focus on identifying the highest and best use of land in Wilton. The objective is to determine the right mix of retail shopping, recreation, cultural and entertainment attractions, housing, and jobs to sustain a town's economic viability and create greater resilience to economic cycles. One study helps Wilton strategize ways to strengthen its existing tax base through quality residential downtown business and commercial expansion.
A traditional method of promoting economic development is through tax incentives. A tax incentive is a legislative measure that is used to encourage individuals or businesses to invest in new or expanded businesses by reducing the amount of taxes they are required to pay. Wilton wishes to explore the various incentives available and to assess those which may be the best match for promoting investment and growth in the non-residential sector. This report examines the state and federal incentives available and applies them to different development scenarios in the Town to assess their impact and utility.
Creating Community and Fostering Innovation in Wilton
As noted in the 2015 Economic Development chapter of its Master Plan, Wilton residents identified several economic challenges facing the community including a downtown that is bypassed by major state routes, concern that communities to the east siphon away businesses, and a lack of community gathering venues and events. However, Wilton’s quaint downtown, cluster of thriving manufacturing firms, and available commercial and industrial space are all key assets that can help revitalize the community. One strategy identified is to develop or attract a collaborative work space for the community such as a business incubator or accelerator. This was a suggestion of both the 2016 UNH Cooperative Extension Business & Retention Survey and the 2017 Plan NH Charrette. The intent of this report is to discuss potential benefit of collaborative workspaces, strategies to implement one in Wilton, and possible barriers.