State Approves Economic Revitalization Zones In Amherst

Economic Revitalization Zones have been approved in certain areas of Amherst to stimulate economic growth through tax credits.

Amherst Community Development Office director Sarah Marchant said that zones along Route 101A, The Meeting Place and Labelle Winery were recently approved by the state. An area along Route 101 is currently pending, but will likely receive approval as well.

“This is a tool that we can use to attract and retain businesses,” said Marchant. “We are really excited about that.”

The zones designate properties that are either abandoned or underutilized where businesses can receive credit on their business enterprise and businesses taxes. Eligible 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 property. Tax credits are also given to businesses who hire full-time staff alongside their projects.

Businesses can get up to $200,000 in tax credits over a five year period, which means up to $40,000 a year in tax savings.

Read the ERZ Zone FAQs for more information.

Marchant said that Labelle Winery, which opened their new location on Route 101A, is eligible for these tax credits. Hendrix Molded Products is also eligible since they moved their operations to the former Ceratec building and upgrading their business.

Businesses looking to apply can find more at NHEconomy.org. For more information, contact planning director Sarah Marchant at Smarchant@amherstnh.gov or Gary Chabot at the New Hampshire Division of Economic Development. (603-271-2591)