New Hampshire officials are welcoming a manufacturer that’s moving to the Granite State from Massachusetts, as the Healey admin has convened a council to address the Bay State’s sluggish economic competitiveness.
SynQor, a company that builds power converters for the military and other industries, has alerted Massachusetts labor and workforce officials that it will depart its Boxboro headquarters and relocate to the Granite State early next year.
Officials for the electronics manufacturer have not provided the exact reasons for the move, other than telling the state Executive Office of Labor and Workforce Development that all positions and jobs based in Boxboro will be transferred to a new facility in Salem, N.H.
The move is expected to bring about 250 jobs to New Hampshire, marking the second Bay State company to relocate to the Granite State this year.
“SynQor is moving its HQ — and 250 jobs — from Massachusetts to New Hampshire!” Granite State Gov. Kelly Ayotte said in a social media post on Wednesday. “As the #1 state for economic freedom, we’re a beacon of opportunity for companies looking to grow. No better place to live, work, or raise a family than the Granite State!”
Analogic Corp., a health care and security technology company, announced in January that it would relocate its Peabody headquarters, bringing about 500 jobs to Salem, a town of about 30,000, just over the border.
Salem Town Councilor and New Hampshire state Rep. Joe Sweeney is applauding SynQor and Analogic for bringing their companies north, moves that he calls a “predictable result of years of smart policy, disciplined leadership and a clear belief in free-market principles.”
“As a Salem Town Councilor and as Deputy Majority Leader in the New Hampshire House, I have seen what happens when a state chooses growth instead of government control,” Sweeney stated in a social media post on Wednesday. “For more than a decade, New Hampshire Republicans have reduced employer taxes, cut regulations and created a climate where businesses are treated as partners who help drive prosperity.”
This all comes as Massachusetts continues to rank as a bottom-10 state for economic competitiveness. The Tax Foundation, a national watchdog group, credits the sluggishness to the Bay State’s “overly burdensome individual income taxes, property taxes, and UI taxes.”
Gov. Maura Healey and Lt. Kim Driscoll have convened a Massachusetts Competitiveness Council to develop strategies to strengthen the state’s business and economic climate. The council of more than 20 leaders from business, labor, research and state government met for the first time on Wednesday.
Healey created the council in October to “advise her administration on policies and initiatives that support businesses, grow jobs, and ensure Massachusetts remains a leader in innovation, talent and quality of life.”
“I want Massachusetts firing on all cylinders, and winning the best jobs, investments, startups, companies and talent,” Healey said in a statement on Wednesday. “And we know that the ideas don’t all come from government, but from the people on the ground working to innovate and grow businesses every day.”
The Massachusetts High Technology Council is urging the council to prioritize reviewing state and local tax burdens and incentives or credits for firms that stay and expand in the Bay State, while addressing housing, transportation and energy costs.
“It’s time to stop treating high taxes and overregulation as immutable,” High Tech Council President Christopher Anderson said in a statement. “If Massachusetts wants to keep and attract the businesses driving innovation, growth and high-paying jobs, the time to act is now.”
Paul Craney, the executive director of state watchdog Massachusetts Fiscal Alliance, is slamming Healey’s business mandates.
“Gov. Maura Healey is requiring any business over 20,000 feet to report their carbon footprint for an eventual carbon tax,” he told the Herald, “while NH offers no income taxes and a welcome from their Governor. Quite the difference.”
