"Real liberty is neither found in despotism or the extremes of democracy, but in moderate governments.
Alexander Hamilton

Sunday, October 18, 2015

2016 NH Economic Outlook Bright

According to the New Hampshire Center for Pubic Policy Studies: "The year 2016 will be a very good year for the New Hampshire economy with strong employment growth, driven by a continued recovery in the housing sector and low energy prices overall. "
Some highlights:
  • The Granite State will add manufacturing jobs at the rate of a 0.2 percent average gain each year.
  •  Private services employment growth will increase to 2.0 percent annually in the forecast period. The fastest rate of growth (2.7 percent) will occur in Information Services, followed by 2.6 percent annual growth in Leisure & Hospitality jobs, and 2.5 percent average annual growth in Professional and Business Services jobs from 2014 to 2018. 
  • New Hampshire ranks 21st in the 2015 CEO magazine “Best and Worst States for Business”, but that is an improvement from being ranked 24th last year and 26th in 2013
  • Ball State’s Center for Business and Economic Research cited New Hampshire’s workforce as its primary asset in attracting and retaining manufacturing jobs.
  • Indiana University analyzed the health of manufacturing in all 50 states for every year since 2009, and concluded that New Hampshire is fertile ground for manufacturing, despite relatively high business and energy costs. In the July 2015 report, New Hampshire was one of 12 states that earned a “B” rating for the overall health of manufacturing
  • Titeflex Aerospace’s 76,000 square foot plant in Laconia, New Hampshire will be enlarged by more than 47,000 square feet in the first quarter of 2016, and will be hiring additional workers. 
  • GE Aviation in Hooksett, New Hampshire is building a new facility to construct its LEAP jet engines. Over 60 percent of the engines built at the Hooksett facility would be sold internationally
  • Three manufacturing firms formerly based in Massachusetts moved to New Hampshire this year.
  •  Another Massachusetts manufacturer, which operates two plants in China, will open its first U.S. manufacturing site in Hudson, New Hampshire, hiring 40 new employees
  •  A Comcast call center in Hudson, New Hampshire has been increasing employment, from 122 workers in the middle of last year to 200 currently. The 127,000 square foot facility is considered by Comcast to be a “flagship” location
  • Portsmouth Naval Shipyard, one of the Seacoast’s region’s largest employers, announced plans to hire 715 workers by the end of this year, increasing their civilian workforce from 4,700 to 5,200
  • Seven of New Hampshire’s 24 hospitals were named to the to the 2015 “Most Wired” list compiled by Hospitals & Health Networks’ magazine on behalf of the American Hospital Association.
Not all the news was quite so positive. We did lose some jobs in manufacturing and private industry, and we continue to deal with aging infrastructure including roads, bridges and schools.


Joseph Cormier said...

This is good news, and Kudos to blogger for stimulating news ... other than recreation and sports, that seem to be the onus in MoBo. Ya ... I know ... retirees, vacationers, and the dozen or so that want another gym and more wrec. space.

We should dwell, however, on how the news may, or may not, affect MoBo, at least directly.

MoBo has little chance of attracting manufacturing; maybe, some small companies in Laconia. Manufacturing has/is concentrated in the southern part of the state. With all the empty buildings from previous companies, there's no need for building new ones, up here, let alone the infrastructure.

The full report mentions a company named Benchmark Electronics. They laid-off 65 people in Londonderry.I can remember, back in the 80's, that company being on River Drive in Hudson, NH, where I lived, although I worked in Mass. in the, then, high-tech manufacturing sector. I can remember a vendor business trip visiting Benchmark in Texas, when I was, then, working in Peachtree Industrial Park in Norcross GA (north Atlanta) and another visit in Oregon, when I was working in Belmont as the plant manager in a small manufacturing company, catering to the phone companies. Benchmark is now part of a multinational company, after buyouts and acquisitions.

The point is, even if NH's economy improves, it doesn't mean MoBo will ... or needs to!

Maybe we should understand, first, what is MoBo's economy ... besides property taxes. I said economy, not schools, or, what some would like it to be. Try analyzing what we have to offer, before offering low income housing to younger families, that are the southern part of the state ... and will probably continue to go there for what it offers.

Please, don't bring up any self-serving vision or study.

Where's that marketing company the BoS keep talking about? Maybe, it, the marketing company, can figure out what MoBo can offer ... after MoBo tells it the goal ... if it, even knows!

Terence C. Jatko said...

Yep, everything is just peachy. We all just finished "Recovery Summer" number seven; wages continue to fall; record numbers of Americans are on SNAP (food stamps), record numbers of Americans are no longer in the workforce, and the infrastructure is crumbling despite the $835 BILLION "Stimulus Bill" of 2009.
Everything's great!

Anonymous said...

Change you can believe in !!!!

Moultonboro Blogger said...

Of course Terrence we can't forget the Bush " stimulus" tax cuts and the $700 billion bail out in 2008, which combined totaled over a trillion bucks. No one is saying that everythings perfect, but it is hard to argue that the economy has not improved dramatically and continues to inmprove here in NH.

Anonymous said...

Terence - the median wage is falling because more people are back to work albeit at entry or low wage jobs. I think you are intelligent enough to understand what the median represents. You can't knock the economy for both the out of the workforce numbers and wages are falling in the same comparison.

Anonymous said...

An economy that has lost huge numbers of workers to the "no longer looking" club and offers those still in the hunt for a job but only finding low wage, part time non career jobs CAN be knocked in the same comparison. The present admin in DC discarded the no "longer looking" people from the unemployment figures to keep them from being too low. Just like they did when they discarded of food fuel and housing numbers from the CPI. Both events rid the administration of a large part of that economic sector that was not favorable for headlines.

Terence C. Jatko said...

Great; blogger trots out the old "Bush did this" distraction. Who has been in charge for nearly seven years? To listen to that pathetic Democrat "debate", the country is on the verge of depression, with the only solution being even more of what we've experienced in the last seven years. Except with more taxes and government spending and "free stuff", of course.

Here's a better picture of the economy;


The problem is that there are more people chasing about the same number of jobs; that will ALWAYS depress wages. The economy is saddled with an ever-larger government bent on consuming an ever-greater portion of a nearly-static GDP. The real truth is that the business community, or at least the small business community who are not tapped in to the inside-the-beltway crowd, is scared to death of what is coming down the pike in the last year of the half-wit in the White House's tenure.

Its Bush's fault, it's Bush's fault. Yeah, right! Just like guns make people criminals.

Joseph Cormier said...

Maybe the real debate is: Gov't stimulus or Gov't interference. Does Gov't create jobs (maybe, in gov't sycophant jobs).

The economy, in my humble opinion, is slowly "turning around" because businesses can't wait any longer ... "sink or swim". You can only sit on the throne, just so long, and then something has to happen. Sure "cash for clunkers" really stimulated the economy! Or ... that and most gov't schemes, only demonstrate how inept gov't is at creating jobs. Just, get the hell out of the way, but make law for all; e.g., no loopholes for hedge fund artists etc. Close all loopholes!

The money offshore (business not gov't) can stay there ... and the gov't can still wait to tax it. The Irish gov't probably is smarter than most gov'ts, when it comes to getting business money. They have much fewer choices.

Has any Gov't gesture, any party, ever continued to "save the economy" to Valhalla? Include all the parties and their attempts at social welfare. WPA (not Wi-Fi protected Access; see 1930's) Soc. Sec. (that they robbed) Medicare, Medicaid, ad infinitum.

Nobody talks about inflation! Why? Because there isn't any! Why? Because gov't changed the definition and how it is determined!

I'm a lot older, and probably more cynical than most MoBo masochists, that attend town meetings. Having food-shopped most of my life, I can't believe the prices at the supermarket haven't caused an uproar; presumption being, you pay for it yourself. Not just the price of goods, but the measurement of what you get for the price. Smaller, not as many sheets of paper towel, smaller bag, less ounces per, etc. I'm not blaming the grocers.

The wife and I are retired (ya ... geezers, and proud of being self-sufficient) and are doing just fine, as long as the gov't doesn't start looking at 401k's or 457b's, or IRA's or other instruments. The gov't "allowed" these havens because it knew Soc. Sec. couldn't last. Gov't robbed the Soc. Sec."lock box" and it's only a matter of time before socialists decide those other "things" are "fair game" as well.

I'm still shocked when I hear the word "socialist" in concert with U.S. gov't. Why not the current word "thieves"!

Businesses, formerly provided Medical insurance during our work life. Business used it as an attraction to gather talent it needed to continue and grow the business. Today ... why the onus on insurance? Why isn't it COST OF MEDICAL CARE, not insurance? School tuition? Why does it cost so much more to get a degree? Professors and subject matter pegged to the GNP? How about that bridge in Brooklyn for sale! Dr. Benjamin Spock (not Star Trek) you succeeded ... and we're paying for it!

Here's a video that's split about half, first "politics" and then "economy".

Consider it a primer!

Anonymous said...

Terence, dropping the no longer looking from the unemployment numbers has gone on administration after administration. The Blogger and many people, me included, bring up Bush because you and other bloggers seem to have developed a very high set of standards only after Obama was elected. That is the ultimate definition of hypocrisy. You say he is a socialist but if he even attempted to create public jobs to lower the unemployment rate or put the no longer looking back to work you would be outraged. FDR had the WPA, CCC and other programs to give people jobs to survive the Depression. Programs like that would not make it through Congress today. The worse case scenario would have been for the economy to totally shut down like it did during the Depression. I doubt that there is a single thing you consider Obama to have done correctly. I may be presumptive but I thing you are an ultraconservative. If so, none of the sky-is-falling predictions concerning Obama have come true. Wall Street has been very happy with him, the middle class not so much. I consider the nitwit to be the one occupying the WH from 2001-2008. I guess it is a matter of perspective.

Terence C. Jatko said...

To Anon.@1:56: The reason Wall Street loves Obama is because the Federal Reserve has been pumping trillions of newly-created dollars into equities through Quantitative Easing. That's the reason the stock market is booming, not any true increase in actual corporate value. When the bubble finally bursts, and it will, the result will be an economy awash in valueless dollars: more and more inflation. Did I call Obama a socialist? Only in your fevered imagination. I didn't agree with all of Bush's policies; maybe you should take a look at your seemingly mindless devotion to Obama.

Joseph Cormier said...

Maybe after politics, we can debate religion or other non-controversial subjects ... like death and taxes. No need to view the world from a different set of lenses. It's great when folks make-up there own facts, as well. Or better yet, just quote some operative!


See ya at the meeting tomorrow night! They're going to talk about the "new normal" ... tired of hearing about/of/from the "old abnormal" :)

Anonymous said...

Fact check: In 2000 America had a budget surplus. By 2009 ( after 8 years of "W") the country had historic deficits. Can't mention Bush's name in the argument? Hogwash.

Terence C. Jatko said...

To Anon. @ 6:51 PM: Obama has doubled the national debt in only seven years. Now that's Democrat progress. Bankrupt the country? Yes, we can! Better check the difference between "deficit" and "national debt", so you can at least appear somewhat knowledgeable.

Anonymous said...

and thank goodness we didn't have 8 more years of republicans in the white house or the mess today would be even more astronomical for the Democratic party to fix.

Anonymous said...

Terence, you need to fact check your statement. It hasn't doubled yet. Plus, GW did double it. It was $5.8T as of Oct 1 of '01, end of the Clinton budgets, and $11.9T on September 30, 2009, end of GWB budgets. W signed the 2009 budget in the fall of2008 with a structural $1.1T deficit.

Moultonboro Blogger said...

What began as a "good news" type story ( and an improving economy is good news) quickly became a blame game, which sadly is endemic today in our polarized political climate. Can't we even celebrate good news together?

Anonymous said...

Sure, Blogger. The good news is out town doesn't owe $18 trillion.

Moultonboro Blogger said...

anon at 10:42- No idea what you comment even means and goes a long way to proving my point. Thank you!

Terence C. Jatko said...

"What began as a "good news" type story ( and an improving economy is good news) quickly became a blame game, which sadly is endemic today in our polarized political climate. Can't we even celebrate good news together?"

This is rich: I attempt to inject some reality into today's economic malaise and Blogger blurts out "Bush did this" like that somehow justifies today's economic debacle. Pot, meet kettle.

It's as if the Democrat party wants to sweep the last seven years under the rug and run against George W. Bush. I can't say I blame them.

Anonymous said...

This has gotten too old to follow. Don't get partisan political talking points cranking because both sides are impotent. Take Moultonborough for what it is, a beautiful area with an off-the-lake, one stoplight (a blinker at that!) downtown! It is a nice place to live, to retire to, and enjoys good fire and police protection, a nice library and schools. 'Voters' should live within 'our' means, or, I fear, 'non-voting' citizens will recoil from excessive taxation without representation by pulling back support from local vendors. Manufacturing in Moultonbourough? Really?...will oxen bring the product to market?

Anonymous said...

yah, better to ignore the Bush years and just blame Obama. typical far right.

Tom Howard said...

Perhaps, our time would be better spent discussing the various tax/budget plans of various candidates. In other words, how do we make things better? Working together to craft solutions that are palatable to most view points is a reasonable goal. To that end I spent my late night computer time on reading Rubio, Paul, and Kasich plans (in their abridged forms) and found some things I liked and some I did not. But, in many cases I would like to hear better explanations and the counterpoints to help me formulate a plan in my own mind. Then I can compare that to the candidates as they begin to sift out of the race, voluntarily or by voters in the primary.

Don't try to read into my choice of reading; I started by entering a website listed on a mailed flyer before throwing the wasted paper out (or I suppose it was not wasted since I followed their suggestion and read more). I plan to continue my reading by investigating any candidate who actually has a plan.

So, who believes we should eliminate the "death tax"; simplify the tax code; reduce tax rates; pay for reductions by eliminating most tax deductions; allow for full expensing of capital expenditures by businesses? Just for example.

Let's see if we can add knowledge without rhetoric.