New Coos County Tax Credit Will Help Company Build in Colebrook

CONCORD - Gov. John Lynch today announced that North American Equipment Upfitters will open a new facility in Colebrook, creating up to 60 new jobs in the North Country.  The company will benefit from the new Coos County Tax Credit, which passed the Senate yesterday and which Gov. Lynch will soon sign into law.

North American Equipment Upfitters is a Hooksett-based manufacturer of truck-mounted aerials.

"This is a tremendous opportunity for the North Country and its hard-working men and women. I want to thank Michael Dunican of North American Equipment Upfitters for recognizing that the North Country is the perfect place for businesses looking to expand," said Gov. Lynch.

A combined state, regional and local effort led to this business expansion in the North Country.

"Our state's economic development team is aggressively reaching out to businesses encouraging them to bring jobs to the North Country. This expansion is a direct result of that effort and the strategic investments we are making in our economy and workers," Gov. Lynch said.

In marketing the state, and the North Country, the state promotes the new Coos County Tax Credit, Economic Revitalization Tax Credits, which provides incentives for business looking to locate in rural or economically depressed areas; job training funding; and loans through the New Hampshire Business Finance Authority, among other economic development tools.

"This is an incredible opportunity for our company to benefit from the excellent workforce in the northern tier of the state, as well as to experience the great quality of life the North Country offers," said Michael Dunican, president of North American Equipment Upfitters. "This is truly a case where the State of New Hampshire, through the Division of Economic Development, opened my eyes to a great opportunity to expand our business in a truly collaborative way."

Dunican will be creating a new company, Colebrook Manufacturing, to provide fabrication of add-on equipment for his three existing upfitting locations as well as to other aerial companies throughout the United States.

The creation of Colebrook Manufacturing was due in part to the state's Northsourcing campaign, which seeks to stimulate the North Country economy. In addition to targeting expanding and relocating businesses, the initiative also matches New Hampshire companies with overflow work with northern tier businesses seeking new business partnerships.

"We're very excited for Colebrook Manufacturing as well as for the citizens of Colebrook and our staff who worked very hard to bring this company to the North Country," said New Hampshire Department of Resources & Economic Development Commissioner George Bald. "Job creation is key to the overall health of our state's economy and we know that this company is committed to hiring locally and providing an upward career path for its workers."

With the assistance of White Mountains Community College and New Hampshire Employment Security, the company plans to initially hire ten fabricators and welders. The company's long-term plans include manufacturing aerial lifts for distribution to companies both nationally and internationally, a plan that would lead to the hiring of up to an additional 50 employees by 2009. Colebrook Manufacturing also anticipates that additional jobs will be created through the use of local businesses for raw materials and services.

"I have no doubt that this business has been set up to succeed," Dunican said. "With the assistance of everyone from First Colebrook Bank and Public Service of New Hampshire to the Governor's office, the Division of Economic Development, the Northern Community Investment Corporation, the North Country Council, the Coos Economic Development Corporation and the Rockingham Economic Development Corporation which helped with our first operation, I've learned that New Hampshire is a state that places high value on supporting and growing its businesses. I'm thrilled at what we've been able to achieve together."

Colebrook Selectman Roland Cotnoir said that the addition of this business to his community will do much to improve the local job market.

"As a selectman and President of the Colebrook Development Corporation, I can tell you that this community's prayers have been answered," Cotnoir said. "After years of our organization and many others searching for relief to our job shortage, we have a great new company offering employment opportunities. We thank Governor Lynch, the Department of Resources & Economic Development and everyone else involved for their commitment to the North Country."

Colebrook Manufacturing expects to be in full operation sometime this summer.