FOR IMMEDIATE RELEASE                                                      Thursday, January 24, 2008

Contact: Senator Joseph Foster

(603) 271-2111

SENATORS SUPPORT GOVERNOR’S COOS COUNTY TAX INITIATIVE

CONCORD – Several state senators spoke out today in support of Governor John Lynch’s Coos County tax credit, saying they hope it will spur economic growth in that part of the state.

“Coos County already has great natural beauty as a major draw for businesses and employees. But the region needs a boost as it transitions from an economy built around its mills to one built around new opportunities. We fully support the governor’s efforts to provide that boost through his tax credit program,” said Senator Joseph Foster (D-Nashua), the Senate Majority Leader.

Lynch’s proposal would give a Coos County business that creates a new job paying at least twice the minimum wage a $1,000 credit against its business taxes for each of the next five years. He unveiled the new initiative during his “State of the State” address on Wednesday.

“I love the initiative. It’s a tool and we need every tool we can get that has the potential to attract new employers to the North Country,” Senator John Gallus (R-Berlin) said.

The proposal also won praise from the chairman of the Senate Finance Committee, Lou D’Allesandro (D-Manchester).

 “It’s a great idea. It creates an immediate incentive for businesses to consider the North Country as a place to locate or expand. We hope this is one of many actions that will create new jobs and initiate the rebuilding of the region’s economy,” D’Allesandro said.