New Hampshire Center for Public Policy Studies
Posted by Christine Donlan
on Apr 11, 2016
On April 11th, Steve Norton of the New Hampshire Center for Public Policy Studies, addressed the Rotary Club of Nashua regarding the economics of the state. Steve said the economics of the state are changing rapidly. New Hampshire is the third oldest state in the nation (behind only Maine and Vermont).
The state needs to take action to bolster economic growth, such as investing in human capital and rail. We should also take steps to make the state more appealing to millennials, who expect modern communications infrastructures. Rail would not necessarily be beneficial in itself but the indirect benefits would likely benefit Nashua the most.
Over the next 15 years the state workforce will decline by 7.5%. New Hampshire has tight labor markets and the nation’s lowest unemployment, so employers are have a hard time finding qualified employees. Job creation in New Hampshire is mostly in the cities, and it’s harder and harder to make a living in rural areas. Steve said that the state needs to be ready to take advantage of our proximity to Boston if the Massachusetts economy expands again. He further said that the state needs to be creative within its cultural and constitutional limits to make New Hampshire appealing to capital-intensive businesses, which is where the growth is.