New Tax Credits Open to Exeter Businesses

The state today approved a tax credit program for Exeter businesses along Epping Road.

Businesses within a 1.5-mile stretch of the road from in the south to past the Mobil gas station to the north are eligible for the program.

Existing businesses there – as well as new businesses that move in – can apply for a credit that would be applied against the Business Profit and Business Enterprise taxes. Existing businesses must either expand or create new jobs to qualify.

The Economic Revitalization Zone program was approved by the state Department of Resources and Economic Development. More than 40 such zones have been established in communities like Dover, Londonderry, and Raymond.

"This will only help the businesses that are already located there, and we hope that it inspires businesses to take a fresh look at Epping Road," Exeter Town Manager Russ Dean said in a statement. "This makes the Epping Road Corridor much more marketable for potential expansion and development."

For decades, Exeter officials have been trying to encourage growth in this area of town. There has been recent progress, as recently opened a branch and The Meeting Place affordable housing complex was built.

But much work remains. Epping Road has several blighted sections like the lots bookending . The photo to the right is of a vacant business bock next to it.

Dean said town officials will work to educate businesses owners about the tax credit program. He added they will reach out to realtors so they can use it to market properties to businesses thinking about moving in.

If you're a business owner and would like more information, contact Dean at 603-778-0591 or e-mail twnmgr@town.exeter.nh.us. More information can be found on this state website.