Economic Revitalization Zone Tax Credits
Nashua has identified six areas within the city where investment and job creation are strongly encouraged. These Economic Revitalization Zones (ERZ) provide the opportunity for growing firms to qualify for tax credits to be used against the New Hampshire Business Profits Tax and the Business Enterprise Tax.
Research and Development Tax Credit
Nashua has always been a place where new ideas are rewarded. Nashua firms of all sizes are eligible to apply for the New Hampshire Research and Development tax credit.
Tax Increment Financing
Authorized under New Hampshire RSA Chapter 162K, Tax Increment Financing (TIF) provides financing for public improvements (sewer, water, roads, sidewalks, landscaping etc.) that are required to initiate viable economic development. New property tax revenue created by the proposed development is used to offset the cost of the public improvements. A TIF can provide an attractive and viable mechanism to pay for the public improvements necessary to support desired redevelopment projects, business expansion, or renovation in specific areas desirable to the City of Nashua.
Downtown Nashua Tax Relief Incentive
Property owners who intend to substantially rehabilitate a building located in Downtown Nashua may apply to the City of Nashua for a period of temporary tax relief. The Community Revitalization Tax Relief, if granted, is a finite period of time during which the property tax on the structure would not increase as a result of its substantial rehabilitation (between 5 and 13 years). In exchange for the relief, the property owner grants a covenant ensuring there is a public benefit to the rehabilitation. Following expiration of the finite tax relief period, the structure would be taxed at its full market value, taking into account the rehabilitation.
COVID-19 Impact Fund Program
The City of Nashua has established the COVID-19 Impact Fund to assist in the stabilization of existing small businesses and non-profits within the City that have had significant disruption due to the impact of COVID-19. Funds awarded through the program must help contribute to the business or non-profit's ability to remain open, retain employees, and/or provide critical services during this public health crisis.