Amherst Businesses Could Get Tax Credit For Being 'In The Zone'

The town of Amherst is looking to boost its business presence in areas that are ripe for development and growth.

The town is in the process of establishing Economic Revitalization Zones (ERZ) that can give tax credits to companies who want to breathe new life into abandoned or underutilized property. These zones are established to stimulate economic redevelopment, expand the commercial and industrial base, create new jobs, reduce sprawl and increase tax revenues.

The projects must either create a new facility, add a certain amount of value to a building, make significant repairs to their building or a vacant one. The ERZ designations only include areas that are zoned for commercial or industrial use.

The state of New Hampshire budgeted $850,000 in ERZ tax credits last year, and all of it was used, according to Marchant. Those looking to begin a project in an ERZ area can apply for a tax credit up to $200,000.

Read the ERZ Zone FAQs for more information.

Planning director Sarah Marchant presented a map to the Board of Selectman this week of properties along Route 101A and Route 101 that should be considered ERZ. (See proposed maps attached on the right)

Selectman added their suggestions to be included in the ERZ, including some businesses on Route 122 and the property for the Amherst Garden center on Route 101. Marchant said she is working in these recommendations before sending her application to the state.

The zones should be set and approved within a month, according to Marchant, and businesses within these areas can then apply for tax credit on their respective projects.

She said that these zones have already been established in Milford, and many businesses there have already taken advantage of the opportunity. For example, Hitchiner Manufacturing applied for a tax credit on their large expansion project.

In Amherst, Marchant said that construction projects like the new Labelle Winery location would definitely be eligible for the tax credit. into the former Ceratec building, and is eligible since it is expanding and adding new machinery and personnel.

Those looking for more information can contact planning director Sarah Marchant at Smarchant@amherstnh.gov or Gary Chabot at the New Hampshire Division of Economic Development. (603-271-2591)