Innovation is here: It does not need a subsidy

Published Mar 18, 2013 at 3:00 am (Updated Mar 17, 2013)

Last Thursday, Gov. Maggie Hassan came to a business incubator on Elm Street to promote her proposed state budget, which increases spending on the University System of New Hampshire and community colleges, and doubles the research and development tax credit, things she said would boost the state economy. Oh, and it also would subsidize business incubators like abi Innovation Hub, where she spoke.

So she had a friendly audience, and the abi Innovation Hub's official Twitter feed was filled with praise of the governor for focusing on economic development. Meanwhile, over in the Millyard, economic development was taking place without a state subsidy.

Developer Brady Sullivan unveiled The Lofts at Mill No. 1, a 110-unit Millyard apartment complex in what were low-rent office spaces. The idea is to attract young professionals to downtown Manchester, where many companies, including Millyard tech firms, are hiring.

But there cannot be companies hiring; Hassan in her budget address said would-be entrepreneurs were waiting for government help. Hmmm.

America is an entrepreneurial nation, and New Hampshire an entrepreneurial state. Subsidizing entrepreneurship is wholly unnecessary; it is in our DNA. There are obstacles to starting a business, but a lack of government funding and instruction are not among them. That should be obvious to anyone strolling around downtown Manchester. Perhaps the governor should have looked about a little more.

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Spike said:

Mrs. Hassan's vision is not a low-cost state, but a high-cost state where selected businesses can plead to the government to lower their costs (increasing their chances of success if they heap praise on politicians and contribute to their campaigns). Mrs. Hassan won a popularity contest. She has no ability nor legitimate authority to tell us which institutions should receive our money in preference over others, nor what spending will have a "multiplier effect" in excess of what we could have done spending our money ourselves. The state constitution's guarantee that we can enjoy "free and fair competition" should prevent all subsidies to business.
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George LeMont said:

As my jobless household and jobless friends are wondering how it will pay its taxes the Democrat party is still spending as if the economy is booming, but only to their friends and supporters who need government handouts. I can only imagine how many families will find the spending which will have to be funded by the people to be the last nail in their financial coffins? Not to worry Maggie I know having to pay back support in the form of political favors can be expensive for the tax payers.
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Gary Kerr said:

EDITORS "Subsidizing entrepreneurship is wholly unnecessary; it is in our DNA." That is correct - all one needs is the desire to screw the next guy before he screws you. I'm glad that there won't be any subsidy for supporting that private (profit&greed) sector action.
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Innovation is here: It does not need a subsidy

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