CLAREMONT, NH–The City Council passed a resolution Wednesday night to designate a Maple Avenue Economic Revitalization Zone (ERZ). RSA Chapter 162-N provides state business tax incentives to encourage job growth and expansion of private commercial or industrial base through ERZs. There are no downsides, said Nancy Merrill, Director of Planning and Development. “They affect only state taxes, not local.” She added, “There are a couple of vacant buildings and some opportunities.” In order for businesses to apply for the state business credits, the City must designate the zone.
Claremont already has several such ERZs: River Road and downtown TIFs, the Claremont Airport (industrial zone), Sugar River (Sullivan Street industrial zone) and Twistback Road (industrial zone).
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