TThe BHT thanks these tax credit purchasers
Brady Sullivan Cambridge Trust
- Davis Care Group
- Grappone Automotive Group
- Jalbert Leasing
- Launch Angels Management Co.
- Living Innovations
Meredith Village Savings Bank
- Newburyport Five Cents Savings Bank
- One Middle Street LLC
- Peterson Engineering Group
- Piscataqua Savings Bank
- Rath, Young and Pignatelli
- ReVision Energy
- Sanel Nappa Autoparts of NH
The Black Heritage Trail of New Hampshire is grateful to all the New Hampshire businesses who purchased tax credits on behalf of our organization; your support makes our statewide work possible.
“Cambridge Trust is proud to support the Black Heritage Trail of NH. As a company, we have always been staunch supporters of efforts to eradicate racism and inequity in our communities. The Trail’s mission is a perfect example of this kind of effort. We hope that our backing will assist the Trail in its work toward building more inclusive communities.”
—Daniel Morrison, Chief Executive Officer at Cambridge Trust New Hampshire
Headquarters for Statewide Expansion
JerriAnne Boggis, Executive Director Black Heritage Trail of NH (BHTNH) and Daniel Morrison Chief Executive Officer at Cambridge Trust New Hampshire outside BHTNH Headquarters in Portsmouth, NH
In 2018, BHTNH initiated a 5-year expansion plan to link all seven regions of New Hampshire. The award of NH CDFA Tax Credits, investment from individuals, grants, and NH COmmunity Loan und, purchased 222 Court Street in Portsmouth. This historic building serves as the headquarters and visitors center to support statewide expansion. THe BHTNH is a constant reminder of an African presence in the state from 1645.
BHTNH Awarded $450,000 in NH Tax Credits
In 2018, the Black Heritage Trail of New Hampshire (BHTNH) made news when it received the highest dollar award of tax credits of all nonprofits awarded that year by the NH Community Development Finance Authority (CDFA) as part of its statewide total of $4 million. Statewide, those tax credits are expected to focus on economic development, downtown revitalization, and developing affordable housing. Tax credits awarded to BHTNH were used to purchase a historic building in downtown Portsmouth to serve as an interpretive center and office space for the organization. Since 2016, BHTNH has made that dream come true with its new space at 222 Court Street. Today, the Black Heritage Trail of NH is proud to announce that all $450,000 in tax credits have been sold.
What are tax credits?
Tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in NH that contributes to a NH CDFA tax credit project receives a NH state tax credit worth 75% of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows NH businesses to use their state tax dollars to support local projects that they care about. NH CDFA reviews many project applications each year and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state.
