The New Hampshire Seacoast area’s economy appears to be holding steady. Portsmouth’s unemployment rate dropped slightly from 4.6% to 4.4%. Last year’s planned projects are well underway and new plans for 2012 are on the horizon. Portsmouth’s City Action Plan is specifically targeting investors and business tenants by investing in improvements and new construction.
The Portwalk Project that was put on hold in 2009, resumed in 2011 and is nearly complete. The mixed use building will hold retail space on the ground level and residential units in the upper portion. Originally the plans included office space, but as the needs of the market changed, so did the plans. Another project in the works is the Service Credit Union World Headquarters on Route 1 in Portsmouth. This brand new facility is 100,000 SF and will be completed in the summer of 2012.