Businesses in New Hampshire: 39,298 workplaces, a southern tier that works like part of Boston, and the top headquarters

New Hampshire is a small market with an outsized factory floor: one job in nine is in manufacturing, much of it electronics and instruments in the Merrimack Valley. Two of its counties sit inside the Census Bureau's Boston metro area, so the state's busiest business corridor is really the northern edge of Greater Boston.

Market report6 min readPublished

New Hampshire had 39,298 business establishments with paid employees in 2023, 41st among states, employing 628,166 people, according to the Census Bureau's County Business Patterns; Hillsborough and Rockingham counties hold 54.2% of them. Residents filed 17,046 applications to start businesses in 2025. The largest New Hampshire-headquartered companies by revenue in their latest 10-Ks are Iron Mountain ($6.90 billion), White Mountains Insurance ($3.74 billion), PC Connection ($2.87 billion), Planet Fitness ($1.32 billion) and Albany International ($1.18 billion).

  • New Hampshire had 39,298 establishments and 628,166 employees in 2023, 0.47% of US establishments.
  • Manufacturing employs 10.9% of New Hampshire's workforce, against 8.8% nationally, at $76,409 average pay.
  • Hillsborough (Manchester, Nashua) and Rockingham (Portsmouth, Salem) counties have 54.2% of establishments and 54.0% of jobs.
  • Only 27 New Hampshire establishments have 1,000 or more employees.
  • Iron Mountain of Portsmouth is the state's largest public company, with $6.90 billion in 2025 revenue.
On this page

This page is for anyone trying to find, size or vet New Hampshire businesses: buyers looking for local suppliers, job seekers, analysts and B2B sellers covering northern New England. It has the Census counts, where the businesses are, what they do, the public companies headquartered in the state, the official sources for checking a business, and a prospecting example among the state's electronics and instrument makers.

How many businesses are in New Hampshire

MeasureNew Hampshire, 2023
Establishments39,298
Employees (pay period including March 12)628,166
Annual payroll$41,281,464,000
Average employees per establishment16.0
Average annual pay$65,717
Share of US establishments0.47% (of 8,361,342)
Rank among states by establishments41
Employees at the establishmentEstablishments
1 to 420,470
5 to 97,681
10 to 195,307
20 to 493,815
50 to 991,151
100 to 249600
250 to 499188
500 to 99959
1,000 or more27

In bands: 33,458 establishments with 1 to 19 employees, 4,966 with 20 to 99 and 874 with 100 or more. These are County Business Patterns (CBP) figures from the Census Bureau: business locations with paid employees, across all industries. A company with three offices counts three times, and owners working alone aren't counted.

New business formation is steady. The Census Bureau's Business Formation Statistics show 17,046 applications to start a business in New Hampshire in 2025 (our sum of the monthly figures, not seasonally adjusted), up 53.0% from 11,142 in 2019. Of the 2025 applications, 5,205 (30.5%) were "high-propensity," meaning the Census Bureau expects them to become employers.

Where New Hampshire businesses are

CountyMain citiesEstablishmentsEmployeesAverage pay
HillsboroughManchester, Nashua11,028186,868$71,919
RockinghamPortsmouth, Salem, Derry10,266152,257$67,471
MerrimackConcord4,21362,841$60,356
GraftonLebanon, Hanover2,92054,232$64,295
StraffordDover, Rochester2,72939,697$55,996
CheshireKeene2,00127,755$55,022
BelknapLaconia1,90521,197$52,522
CarrollConway1,89617,163$47,599

Average pay is our calculation from CBP payroll. Two things stand out. First, the southern tier is the market: Hillsborough and Rockingham alone have 54.2% of establishments and 54.0% of jobs. Second, the Census Bureau puts Rockingham and Strafford counties, with 12,995 establishments between them, in the Boston-Cambridge-Newton metro area. Many companies there sell into, hire from and compete with Massachusetts, so a New Hampshire territory drawn on the state line splits real markets. Grafton County, home to Dartmouth, has the largest workplaces of the eight, 18.6 employees per site; Carroll County, in the White Mountains tourist region, has the smallest.

What New Hampshire businesses do

Sector (NAICS)EstablishmentsEmployeesShare of jobsAverage pay
Retail trade (44 to 45)5,70695,66315.2%$39,234
Construction (23)4,94933,6345.4%$81,937
Other services (81)3,93522,5163.6%$45,098
Accommodation and food services (72)3,88561,6519.8%$28,678
Health care and social assistance (62)3,86897,22015.5%$67,801
Professional, scientific and technical services (54)3,69939,5876.3%$101,851
Administrative and support services (56)2,57261,0739.7%$61,261
Finance and insurance (52)1,96629,8524.8%$111,719
Manufacturing (31 to 33)1,74168,62610.9%$76,409
Wholesale trade (42)1,69824,7593.9%$96,528
Information (51)77214,4272.3%$123,014

Shares and pay are our calculations. Retail is unusually large, at 15.2% of jobs against 11.5% across the US. Manufacturing is the other outlier. The state's Department of Business and Economic Affairs says New Hampshire has more than 1,700 manufacturers employing over 67,000 people, consistent with CBP's 1,741 establishments and 68,626 jobs. Much of it is technical: 79 establishments make semiconductors and other electronic components (4,728 employees) and 62 make measuring, navigation and control instruments (5,073 employees, a figure the Census Bureau marks as moderately affected by the noise it adds for confidentiality). Hillsborough County has 45 and 31 of those, respectively.

The largest public companies headquartered in New Hampshire

The nine largest listed companies whose latest 10-K gives a New Hampshire headquarters, all with more than $500 million in revenue, with the city from the filing's cover page:

RankCompanyHeadquartersIndustryRevenueFiscal year ended
1Iron MountainPortsmouthRecords storage and data centers$6.90 billionDec 2025
2White Mountains Insurance GroupHanoverInsurance and financial services$3.74 billionDec 2025
3PC ConnectionMerrimackIT solutions reseller$2.87 billionDec 2025
4Planet FitnessHamptonFitness franchising$1.32 billionDec 2025
5Albany InternationalPortsmouthEngineered textiles and composites$1.18 billionDec 2025
6Standex InternationalSalemIndustrial products$891.6 millionJun 2026
7Allegro MicroSystemsManchesterSemiconductors$890.1 millionMar 2026
8UnitilHamptonElectric and gas utility$536.0 millionDec 2025
9SkillsoftNashuaCorporate learning software$512.7 millionJan 2026

White Mountains is incorporated in Bermuda but gives Hanover as its principal executive office. Revenue is total revenue as reported. Three of the nine are on the Seacoast (Portsmouth and Hampton), and the list holds few of the state's big private employers, such as hospital systems and privately owned manufacturers, which don't file with the SEC.

How to look up a New Hampshire business

SourceWhat it's good for
New Hampshire Secretary of State, Corporation Division (QuickStart)The state's register of corporations, LLCs and trade names, with an online business search
Department of Business and Economic Affairs: advanced manufacturingThe state's profile of its manufacturing base and its industry support programs
SEC EDGAR, New Hampshire filersAnnual reports for the companies in the table above
Census Business Formation StatisticsMonthly new-business applications for the state

A clean entity record shows a business exists, not that it's sound. For a supplier, also ask for a certificate of insurance and two references, and for a manufacturer, ask which quality certifications it holds and when they were last audited.

Prospecting New Hampshire's electronics and instrument makers

Illustrative example. The company, rates and results are fictional, to show the method.

Granite Metrology (granitemetrology.example) runs an accredited calibration lab and does on-site calibration of test and measurement equipment. Its best customers are mid-sized electronics and instrument plants, which have hundreds of gauges and meters but no in-house lab. It starts from the Hillsborough County figures:

  • Semiconductor and electronic component establishments with 20 to 249 employees: 11 + 9 + 6 = 26.
  • Instrument makers with 20 to 249 employees: 5 + 6 + 4 = 15, for 41 in all.
  • It assumes each spends about $40,000 a year on outside calibration and that it can win one in five over two years: about 8 accounts, worth roughly $320,000 a year.

Its contact is the quality manager, who owns the calibration schedule and faces the audit, with the operations manager copied when on-site work would stop a line. Telling a 40-person instrument shop from a 40-person distributor, and finding its quality manager, is account-by-account research that Bebop handles for each name.

Email to a quality manager at a New Hampshire electronics plant
Subject: Calibration before your next audit at [Company]

Hi [first name],

Most plants your size in the Merrimack Valley send gauges out in batches and wait two to three weeks to get them back, which is when the overdue items pile up before an audit.

We calibrate on site in [Nashua / Manchester / Hudson], work around your shifts and load the certificates straight into your quality system. Could I send a sample certificate and our turnaround for a plant of [Company]'s size?

[Your name], Granite Metrology

Next step: to turn these counts into a list of named accounts, read how to build a prospect list.

Sources

Written by the Bebop team at Blackpearl Group. Published .

Questions people ask

How many businesses are in New Hampshire?

The Census Bureau counted 39,298 business establishments with paid employees in New Hampshire in 2023, 41st among states, employing 628,166 people with $41.3 billion in payroll. That counts workplaces, not companies, and excludes the self-employed. The number of registered businesses is higher, and residents filed 17,046 applications to start a business in 2025, according to Business Formation Statistics.

What are the biggest companies in New Hampshire?

By revenue in their latest 10-K filings, the largest companies headquartered in New Hampshire are Iron Mountain of Portsmouth ($6.90 billion in 2025), White Mountains Insurance Group of Hanover ($3.74 billion), PC Connection of Merrimack ($2.87 billion), Planet Fitness of Hampton ($1.32 billion) and Albany International ($1.18 billion). Standex, Allegro MicroSystems, Unitil and Skillsoft also report more than $500 million.

Which county in New Hampshire has the most businesses?

Hillsborough County, home to Manchester and Nashua, with 11,028 establishments and 186,868 employees in 2023, according to County Business Patterns. Rockingham County, which includes Portsmouth and Salem, is close behind with 10,266. Together they hold 54.2% of the state's establishments. Merrimack County, around Concord, is third with 4,213.

How do I look up a business in New Hampshire?

Search the New Hampshire Secretary of State's Corporation Division records through its QuickStart system, which covers corporations, LLCs and trade names registered in the state. For public companies, read their annual reports on SEC EDGAR. For licensed trades and professions, check the relevant state licensing board, and ask any supplier for insurance certificates and references.

Is New Hampshire part of the Boston metro area?

Partly. The Census Bureau's Boston-Cambridge-Newton metro area includes Rockingham and Strafford counties in New Hampshire, which together had 12,995 business establishments in 2023. Hillsborough County, with Manchester and Nashua, is its own metro area. For sales territories, this means the Seacoast and the Salem area often belong with Greater Boston rather than with the rest of New Hampshire.

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