Governor Chris Sununu Statement Following Award of 230 Research and Development Tax Credits to NH Businesses

Concord, NH - Following news that the New Hampshire Department of Revenue Administration has awarded 230 New Hampshire businesses with Research and Development Tax Credits for the 2020 program year, Governor Chris Sununu issued the following statement:

"I am pleased to announce that the New Hampshire Department of Revenue Administration will distribute $7 million to 230 New Hampshire businesses this year," said Governor Chris Sununu. "Qualified wages increased 2.8% from program year 2019, further evidence that this tax incentive program is spurring wage growth in New Hampshire. The R&D Tax Credit Program has grown from only $1 million and 71 applicants in 2008 to $7 million and 230 applicants today. Despite the setbacks the COVID-19 pandemic has caused, New Hampshire's innovators and entrepreneurs continue to thrive and create an immense multiplier effect for our economic growth.”