Cash for DRED: Let businesses give it
May 05. 2014 5:30PM
Believe it or not, some businesses want to give money to the State of New Hampshire. The trouble is, they can’t. At least not for the purposes they intend — promoting economic development. The Legislature can change that this week.
State government departments need permission from the Legislature to receive donations. The Department of Resources and Economic Development has had businesses offer it money for promoting economic development, but it has not had the authority to accept the cash. Senate Bill 241 would grant that authority and establish a dedicated fund for the donations.
Sometimes state economic development efforts are widely beneficial, and sometimes they benefit specific industries. This fund would allow businesses to voluntarily give the state money to promote development, which beats having taxpayers fund it, especially if the project is mostly helpful to one industry. Legislators should approve the fund.