Governor John Lynch says despite recent flooding, New Hampshire is open for business.
State officials are concerned that all the news about flooding may keep some tourists away over Memorial Day weekend.
Some people who may be paying attention are Canadians.
They've been heading here in large numbers for the first time in several years.
They're coming because the Canadian dollar has strengthened against the U.S. greenback.
And as New Hampshire Public Radio's David Darman reports, the strong Loonie is bringing more than just tourist dollars.
Canadians have been quick to pounce on the rising value of their currency compared to the dollar.
Dot Seybold manages The Settler's Green Outlet Stores in Conway.
She says she's seen an increase in business from north of the border over the last couple of months.
its a quick drive from quebec. and its an easy drive. its a very pretty drive. and their dollar just goes a lot further here than it would in other places and they certainly do love to shop.
These days, a Canadian dollar, or Loonie, is worth about 90 cents in U.S. currency.
A few years ago, it bought less than two-thirds that amount.
North Country hotels and inns have long run special discounts to attract Canadians at this time of year.
It's typically a slow time for the hotels, since ski season is over, and summer is still a few weeks away.
Tom Spaulding manages three North Country hotels, including the Green Granite Inn and Conference Center in North Conway.
He says the specials have been popular, because they offer Canadians a chance to pay their bills with their own currency, as if the Loonie were worth as much as the U.S. dollar.
they love that kind of deal. because its a discount. unfortunately as their dollar stregthens against ours it becomes less and less of a deal and they're very deal conscious people.
Even though the discount for Canadians wasn't as deep as in the past, the deal proved especially appealing.
This past weekend, business at Green Granite was up 20 percent over last year.
The strengthening Loonie hasn't only been a benefit to tourists.
It's also helped New Hampshire companies that export products to Canada.
Michelle Ouellette of New Hampshire's International Trade and Resource Center says exports to Canada were up 5 percent in 2005, and even more in early 2006.
She says a number of industries lead the export list.
the largest increase we've seen is in electric machinery, sound equipment and that type of equipment, high tech types of things, surgical instrumentation, medical products, photo and optical equipment. those are the ones that have seen the greatest increases.
Some industries in New Hampshire haven't participated in the export expansion.
Forest products sales to Canada were down significantly in 2005.
And loggers and sawmills in the state have had to adjust to the loss of two big wood buyers in the last few months.
Both the Fraser Pulp Mill in Berlin and the Groveton Paper Mill have shut down.
That's made John King of King Forest in Wentworth try and sell some of his wood chips in Quebec and Ontario.
And he says for the first time in a long time, his company has made sales north of the border.
we're sending a few whole tree chips you know, paper mill chips into canada at this time which problably would not have happened a couple of years ago with the exchange rate that was back then a few years ago i think it was 1.58 and now its down to 1.10, so that's quite a swing.
The rising loonie has been squeezing another New Hampshire company, which is in the high tech field.
Electropac of Manchester manufactures printed circuit boards, for use in prototypes of medical devices or telecommunication equipment.
For 15 years, the company has manufactured these boards in Canada.
The arrangement took advantage of the Loonie's weakness against the U.S. Dollar.
But Electropac President Raymond Boissoneau says with the Loonie rising, he's had to close one of his Canadian facilities.
i had two. we're down to one. ...because again of the business that's fallen off, we closed our facility in Montreal. but we still maintain a facility in st catherine's, ontario, but they're currently operating at half staff.
Economists say the stronger Canadian dollars should make Canadian goods more expensive for U.S. customers.
Electropac's situation bears that out.
And Canada may become a less attractive tourist destination for New England.
But overall, New Hampshire should see many benefits to the rising Canadian Dollar.
Exports to Canada should keep increasing if the Loonie stays strong.
And Canadian tourists should continue to find New Hampshire attractive, because their money will buy more than it has in years.
For NHPR news, I"m DD
