Forbes magazine has termed the Hanover-Lebanon Area of the Upper Connecticut River Valley the “least vulnerable” regional economy in the nation for communities of its size. Helping make the Hanover Area so economically stable are Dartmouth-Hitchcock Medical Center and Dartmouth College, the largest local employers with about 10,000 employees between them. Hypertherm, Inc. (the world leader in plasma cutting technology), was named by the Society for Human Resource Management as one of the “50 Best Small & Medium Companies to Work for in America.” It also has been recognized by Business New Hampshire Magazine as one of the top large companies in the state to work. Other area companies include: Tom Tom (a leader in digital mapping and other geographic data), whose American headquarters is in Lebanon; King Arthur Flour, located in Norwich, VT; Dartmouth Printing Company, which has a workforce of 242 people; and Trumbull-Nelson Construction, which employs 120.
In addition to the hospital, college, retail, manufacturers and technology companies, Hanover is a banking center. It is home both to large regional banks as well as smaller, independent and locally owned banks that boost the already stable economy with local investments. Professional, healthcare, accommodations and food service are main industries in the Hanover Area where an estimated one out of every three employees walks to work. The U.S. Census Bureau cites the average commute as being just 13.9 minutes. A whopping 96.6 percent of the workforce over 25 years of age has at least a high school degree; 77.7 percent have a bachelor’s degree or more; 42.6 percent have graduate or professional degrees.
Downtown Hanover has seen carefully considered changes over the years while retaining handsome older buildings. Hanover Park on Lebanon Street combines dining and retail stores within an elegant brick facade. Ledyard Financial Advisors built the eye-catching new office building just off Main Street on Maple Street, and Dartmouth College has the new performing arts center firmly in place. Much new construction in recent years has been the result of a coordinated effort by the town and the college to add retail, office and residential space that complements the unique character of the town.
On the outskirts of town, Centerra Resource Park – a business park and marketplace – is a growing development on Route 120 that includes a business incubator. Its location near Dartmouth-Hitchcock Medical Center and minutes to both Hanover and Lebanon downtowns make it a premier location for commercial businesses and light industry.
The Richards Group
JMH Wealth Management