Just as New Hampshire’s baby boomers are aging out of the workforce, the state’s used-to-be steady stream of educated newcomers just aren’t moving here at the same rates. This collision of factors strains state’s economy. That’s why – at the Division of Economic Development’s annual meeting – business and employee recruitment was a major topic of discussion.
Patrick Clark is CEO of Burstpoint Networks, an internet startup that moved from Westborough, MA to Merrimack, New Hampshire, this summer. He says New Hampshire’s big selling points include the software engineering talent in the Nashua area, and the growing engineering department at UNH – along with what he calls “quality of life.” The big drawback to doing business in New Hampshire, he says, is the cost of health care.
When I moved my company here, health care costs for in-state employees went up 31 percent, for out of state employees it went up 58 percent, and the deductible went from $2,000 to $6,000. So you’re paying more, for a worse program.
Business leaders at the event also shared tips for expanding into international markets, saying Saudi Arabia may be the most exciting new market for growing NH companies.