FHA Loans in New Hampshire
About This State and its People, Places, and Industries
New Hampshire is a state in the New England region of the northeastern United States of America. The state was named after the southern English county of Hampshire. It borders Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and the Canadian province of Quebec to the north. New Hampshire ranks 44th in land area, 46th in total area of the 50 states, and 41st in population.It became the first post-colonial sovereign nation in the Americas when it broke off from Great Britain in January 1776, and was one of the original thirteen states that founded the United States of America six months later. In June 1788, it became the ninth state to ratify the United States Constitution, bringing that document into effect. New Hampshire was the first U.S. state to have its own state constitution.
It is known internationally for the New Hampshire primary, the first primary in the quadrennial U.S. presidential election cycle. Concord is the state capital, while Manchester is the largest city in the state. It has no general sales tax, nor is personal income (other than interest and dividends) taxed at either the state or local level.
Its license plates carry the state motto: "Live Free or Die". The state nickname is "The Granite State", in reference to its geology and its tradition of self-sufficiency. To accentuate this, many state agencies and New Hampshire license plates carry the image of the Old Man of the Mountain, a former granite stone face in the White Mountains. Several other official nicknames exist but are rarely used.
Among prominent individuals from New Hampshire are founding father Nicholas Gilman, Senator Daniel Webster, Revolutionary War hero John Stark, editor Horace Greeley, founder of the Christian Science religion Mary Baker Eddy, poet Robert Frost, and author Dan Brown. New Hampshire has produced one president, Franklin Pierce.
New Hampshire's major recreational attractions include skiing, snowmobiling and other winter sports, hiking and mountaineering, observing the fall foliage, summer cottages along many lakes and the seacoast, motor sports at the New Hampshire Motor Speedway, and Motorcycle Week, a popular motorcycle rally held in Weirs Beach near Laconia in June. The White Mountain National Forest links the Vermont and Maine portions of the Appalachian Trail, and boasts the Mount Washington Auto Road, where visitors may drive to the top of 6,288-foot (1,917 m) Mount Washington.
As of 2005, New Hampshire has an estimated population of 1,309,940, which is an increase of 10,771, or 0.8%, from the prior year and an increase of 74,154, or 6.0%, since the year 2000. This includes a natural increase since the last census of 23,872 people (that is 75,060 births minus 51,188 deaths) and an increase due to net migration of 51,968 people into the state. Immigration from outside the United States resulted in a net increase of 11,107 people, and migration within the country produced a net increase of 40,861 people.
The center of population of New Hampshire is located in Merrimack County, in the town of Pembroke. The center of population has moved south 12 miles (19 km) since 1950, a reflection of the fact that the fastest growth in the state has been along its southern border, which is within commuting range of Boston and other Massachusetts cities.
As of 2005, New Hampshire has an estimated population of 1,309,940, which is an increase of 10,771, or 0.8%, from the prior year and an increase of 74,154, or 6.0%, since the year 2000. This includes a natural increase since the last census of 23,872 people (that is 75,060 births minus 51,188 deaths) and an increase due to net migration of 51,968 people into the state. Immigration from outside the United States resulted in a net increase of 11,107 people, and migration within the country produced a net increase of 40,861 people.
The center of population of New Hampshire is located in Merrimack County, in the town of Pembroke. The center of population has moved south 12 miles (19 km) since 1950, a reflection of the fact that the fastest growth in the state has been along its southern border, which is within commuting range of Boston and other Massachusetts cities.
The Bureau of Economic Analysis estimates that New Hampshire's total state product in 2008 was $60 billion, tenth lowest in the United States. Median household income in 2008 was $49,467, seventh highest in the country. Its agricultural outputs are dairy products, nursery stock, cattle, apples and eggs. Its industrial outputs are machinery, electric equipment, rubber and plastic products and tourism.
New Hampshire experienced a significant shift in its economic base during the last century. Historically, the base was composed of the traditional New England manufactures of textiles, shoe-making, and small machining shops drawing upon low-wage labor from nearby small farms and from parts of Quebec. Today, these sectors contribute only 2% for textiles, 2% for leather goods, and 9% for machining of the state's total manufacturing dollar value (Source: U.S. Economic Census for 1997, Manufacturing, New Hampshire). They experienced a sharp decline due to obsolete plants and the lure of cheaper wages in the South.
The state's budget in FY2008 was $5.11 billion, including $1.48 billion in federal funds. The issue of taxation is controversial in New Hampshire, which has a property tax (subject to municipal control) but no broad sales tax or income tax. The state does have narrower taxes on meals, lodging, vehicles, business and investment income, and tolls on state roads.
According to the Energy Information Administration, New Hampshire's energy consumption and per capita energy consumption are among the lowest in the country. The Seabrook Station Nuclear Power Plant, located near Portsmouth, is the largest nuclear reactor in New England and provides about 30 percent of New Hampshire’s electricity. Two natural gas-fired plants and some fossil-fuel powered plant, including the coal-fired Merrimack Station plant in Bow, provide most of the rest.
New Hampshire’s residential electricity use is low compared with the national average, in part because demand for air-conditioning is low during the generally mild summer months and because few households use electricity as their primary energy source for home heating. Over half of New Hampshire households use fuel oil for winter heating. New Hampshire has potential for renewable energies like wind power, hydroelectricity, and wood fuel.
The state has no general sales tax and no personal state income tax (the state does tax, at a 5 percent rate, income from dividends and interest) and the legislature has exercised fiscal restraint. Efforts to diversify the state's general economy have been ongoing.
Additionally, New Hampshire's lack of a broad-based tax system (aside from the controversial state-wide property tax) has resulted in the state's local communities having some of the nation's highest property taxes. Overall, New Hampshire remains ranked 49th among states in combined average state and local tax burden. As of February 2010, the state's unemployment rate was 7.1%.
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