NEW HAMPSHIRE INVENTIONINDEX | NOVEMBER 2025

November 2025: 1.30% (B- grade)

New Hampshire inventionINDEX November 2025: 1.30% (B- grade)

The inventionINDEX measures innovation output by comparing GDP growth with patent production growth. 

Anything over C grade is positive sentiment; anything under C is negative outlook/sentiment. Using that sentiment, it is possible to observe trends over time, and also compare states/countries. In doing so, we can predict which states have the best chance to recover economically from the pandemic (or any other economic incident that may occur).

New Hampshire inventionINDEX Scores – Last 12 months

The New Hampshire inventionINDEX for November 2025 sits at 1.30%, maintaining a B- rating for the second consecutive month. While this represents a modest increment from the 1.27% recorded in October, it demonstrates a steady stabilization following the volatility seen earlier in the year. When compared to the same period in 2024, where the score dipped to 1.00% with a C rating, the current metric indicates a reinforced foundation for the state’s innovation sector. This year-over-year improvement suggests that the regional ecosystem is recovering from previous lulls, though it has yet to reclaim the momentum observed during the peak periods of the last five years.

Taking a broader historical view, the current 1.30% score resides below the 60-month average of approximately 1.63%. The index reached its most ambitious height in August 2023 with a score of 2.54%, a level of productivity and creative output that defined a period of exceptional growth. Conversely, the market experienced its most significant challenge in December 2021 when the score fell to 0.89%, earning a C- rating. The frequent appearance of A+ ratings—totaling thirteen instances over the past five years—highlights the state’s capacity for high-performance cycles. Current trends suggest a period of consolidation, as the index moves away from the lower range ratings seen in late 2024 toward a more consistent, albeit moderate, mid-tier performance.

Higher grades, particularly those in the A-range, bring substantial benefits to the New Hampshire economic and intellectual landscape. An elevated score typically signals an environment rich in patent activity, research breakthroughs, and venture capital interest. When the index achieves an A or A+ rating, it often reflects a synergistic relationship between academic institutions and private enterprises, fostering a climate that attracts top-tier talent and encourages risk-taking. Such high performance reinforces the state’s reputation as a hub for technological advancement, potentially leading to increased federal grants and private investments that fuel long-term infrastructure and job creation.

Conversely, scores that descend into the C-range or lower present several negative implications for the region. A lower index score often points toward a stagnation in creative output or a temporary bottleneck in the commercialization of new ideas. These lower ratings can lead to a more cautious investment climate, where capital becomes less accessible for early-stage startups and experimental projects. If the score remains depressed for extended periods, there is a risk of talent migration to more vibrant ecosystems, which can further erode the state’s competitive edge. Maintaining a vigilant approach to these metrics is essential for ensuring that New Hampshire continues to cultivate a robust environment for invention and industrial evolution.

Discussion:

In November, the New Hampshire inventionINDEX scored a positive sentiment which was lower than the previous year’s average and underperformed the downward trend for the year. This is similar to the prior 12 months, which experienced a slight downward trend. 

As the economy continues to stabilize in the post-pandemic era, it remains uncertain whether any backlog of applications still exists or if the department has returned to normal processing timelines. The inventionINDEX could also be affected by lingering consequences from the pandemic, such as company closures, reduced workforces, and limited R&D capabilities, which may still be impacting current operations.

Learn More:

Are you thinking of patenting any of your bright ideas? Did you know your research work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? To find out more, please check out our free online eligibility test.

Swanson Reed’s New Hampshire office provides R&D tax credit consulting and advisory services to Manchester, Nashua, Concord, Derry, and Dover.

Feel free to book a quick teleconference with one of R&D tax specialists if you would like to learn more about R&D tax credit opportunities.

Who We Are:

Swanson Reed is the largest Specialist R&D tax credit advisory firm in the United States. With offices nationwide, we are one of the only firms globally to exclusively provide R&D tax credit consulting services to our clients. We have been exclusively providing R&D tax credit claim preparation and audit compliance solutions for over 30 years. 

Swanson Reed hosts daily free webinars and provides free IRS CE and CPE credits for CPAs.  For more information please visit us at www.swansonreed.com/free-webinars or contact your usual Swanson Reed representative.