Bill > HB1617

This bill enhances the responsibilities of New Hampshire's Department of Business and Economic Affairs by requiring the agency to more actively pursue and track domestic and international corporate relocation and investment opportunities. Specifically, the bill requires the department to include corporate relocation logistics and investment considerations in its annual reports and strategic planning, with a particular focus on emerging economic conditions. The bill stems from findings that recent federal trade policies have generated over $7.4 trillion in potential business investments nationwide, though New Hampshire has not yet been a recipient of such investments. The legislation mandates that the department's economic development strategy will now include more comprehensive metrics on business recruitment, relocation assistance, and investment tracking. Additionally, the bill requires an annual report that not only updates the state's economic development plan but also mandates a supplemental report if significant economic changes occur. The department must also periodically review reports to assess job creation, new revenue generation, and the potential growth and environmental impacts of business development programs. The bill will take effect 60 days after its passage, signaling the state's commitment to proactively attracting and supporting business investments.

Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1987&inflect=2