Smart Manufacturing/High Technology (SMHT) Report
The smart manufacturing/high technology (SMHT) sector is New Hampshire’s economic engine, bringing more wealth into New Hampshire than any other sector—including tourism and retail—according to a 2011 New Hampshire Center for Public Policy Studies report sponsored by the Business and Industry Association of New Hampshire (BIA), in collaboration with the NHHTC and several BIA members. Results of the study also show that New Hampshire’s business costs are high relative to other states and countries with which the state competes for SMHT companies and employment.
According to the center’s study, in 2009 the SMHT sector, which includes 3,700 companies in New Hampshire employing almost 80,000 people, paid out $6.4 billion in wages and benefits, making it the largest single sector of New Hampshire’s economy (19 percent). The next largest sector is government and government enterprises (15 percent), followed by healthcare and social assistance (14 percent).
The center’s study also compared New Hampshire’s cost of doing business relative to top competitor states and countries, including Virginia, North Carolina, South Carolina, Texas, Mexico, India, China and Malaysia.