Cheap power brings jobs to Arkansas from New Hampshire WITH CORRECTON | Arkansas Blog

Monday, December 26, 2016

Cheap power brings jobs to Arkansas from New Hampshire WITH CORRECTON

Posted By on Mon, Dec 26, 2016 at 10:40 AM

click to enlarge sig.jpg

A report in New Hampshire says
arms manufacturer Sig Sauer decided to expand in Arkansas rather than in New Hampshire because electricity costs are better than 50 percent lower in Arkansas.

Note to Rep. Charlie Collins: New Hampshire has no income tax. Repeat: NO INCOME TAX.

Note, too, that when Sig Sauer announced this ammunition plant for Jacksonville several months ago, it was noted that Arkansas was providing $800,000 in corporate welfare payments, plus some additional credits based on payroll and a break on the sales tax on materials. New Hampshire also has no sales tax.

New Hampshire does have a high property tax. Arkansas is known for a relatively low property tax.

But all that is, apparently, secondary to power costs.

CORRECTION: I relied on an outdated on-line assessment of New Hampshire taxes. There is NO income tax on INDIVIDUAL  earned income, though there is a 5 percent tax on unearned interest and divided income of individuals.

There is also a business profit tax of 8.5 percent, with very small businesses exempted. Multistate corporations are subject to a weighted formula for computing how the tax is applied. Here's the full rundown.

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