Lynch signs R&D credit bill

Gov. John Lynch Monday signed legislation creating a research and development tax credit, which he says will provide incentives for companies to expand and create jobs right here in New Hampshire.

Supporters of the bill argue that the credit – capped at $50,000 a year per company and $1 million a year in total state spending – would pay dividends when it comes to private high-tech investment, which has stalled in recent years. That’s because, they say, the state is one of only 10 states nationwide, and the only one in New England, without such a credit.

Critics pointed to a study that found that, while $1 million might generate $1.8 million in new research and development spending and some 70 jobs, it would result only $50,000 return in taxes. – JEFF FEINGOLD