Over 10,000 Tech Jobs Added to Michigan Last Year

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Michigan is climbing the ranks when it comes to tech jobs, growing by 5.1% in 2016 and creating 10,700 jobs. It placed in the top 5 states for percentage growth and was the 10th largest employer of tech workers in the US, with 221,994 employed. The tech sector alone accounted for over $30 billion of the Michigan economy last year (6.6%).

On average, a Michigan tech wage was $89,200 last year, which was well above the state average of $50,400. Popular jobs included industrial engineers, mechanical engineers and computer user support specialists. In quarter four of 2016, there were 28,600 job postings for tech jobs.

Governor Rick Snyder said that, “Over the past six years, we’ve worked hard to attract talent and close the skills gap, including in the high-tech world, and have created nearly 500,000 private-sector jobs. Michigan also has a strong public/private partnership dedicated to working together to build state-wide student proficiency in science, technology, engineering, and mathematics… As a global leader in design and engineering, we are proud to be home to the most FIRST Robotics teams in the U.S. — a national program that offers high schoolers the opportunity to work side-by-side with professional engineers to build, design, and program robots that battle one another (in standardized competitions). We hope to build on these efforts to continue to grow a talented workforce and high-tech industry within Michigan.”

Jobs for tech workers are increasing, not just at technology companies, but in finance, manufacturers and retailers. In fact, two-thirds of these jobs are outside of specific technology businesses. Computing now has twice as many jobs as manufacturing.

Computing now has twice as many jobs as manufacturing. With the tech boom occurring outside of Silicon Valley in places like Michigan, Utah and North Carolina, it is argued that more training is required to fill the shortage. Students in rural areas are less likely than those in the cities to have access to such training, caused in part by a lack of qualified teachers and less funding. However, there is also a skills gap in metro areas and we’re seeing coding bootcamps popping up all over the country.

In Michigan, one of the areas where the strongest year-over-year job growth was seen was R&D and testing labs (5.4%). If your business is undertaking R&D, you may be able to benefit from the R&D Tax Credit. To find out whether you qualify, have a chat with one of our R&D Specialists today.

3D printing shows potential to create wearable electronics

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Researchers at the Missouri University of Science and Technology (S&T) have started the project of creating stretchable electronics that can be elongated, compressed, or twisted to fit practically any surface.

Integrating the wide variety of materials needed to make such an electronic device with such components is proving to be challenging and researchers at Missouri S&T have decided to tackle this challenge using 3D printing, also known as additive manufacturing. Additive manufacturing has the benefit that it can easily change from one material to the another and integrate all the different materials together in one print.This process allows manufacturers to print highly conductive materials onto an elastomer surface layer by layer to create a stretchable electronic device.

At Missouri S&T, researchers are experimenting with a 3D printing approach called ‘direct aerosol printing’. The process involves spraying a conductive material and integrating with a stretchable substrate to develop sensors that can be placed on skin. A working prototype has been created of a stretchable electronic device that can adhere to the face. This project is still in the early phases, however it is believed the technology has a lot of potential, particularly in the biomedical engineering space, because of the soft and conformable nature of the device.

One of the most significant benefits of these electronics is that they can be completely wearable, and can form to any kind of motion, for example, being mounted on the face and detect any small motion from your face. Stretchable electronics could also be developed and installed in shoes and used to measure pressure and weights, the possible applications are extensive.

However, several challenges must be addressed before stretchable electronics become widely used as components in consumer electronics, medical devices and other fields. All the materials needed to make each stretchable electronic device needs to be printable, which means developing ink and printable materials that have all the necessary properties for each type of electronic device. In addition, there are also integration challenges, such as varying temperature requirements among different materials. It is also important to ensure that the stretchable electronics and the malleable surfaces they’re built upon perform and age well together.

One of the biggest research focuses right now is to develop an effective, long-lasting stretchable battery, as the energy device is a very critical component in order for stretchable electronics to be realistic.

Following the perfection of the technology, the products will also need to be scaled-up. 3D printing does make that process more streamlined as it can be easily moved to any location, however there are still a lot of unknown factors. The device itself will also need to be low-cost to create, and eventually biodegradable. Despite these hurdles, researchers are optimistic that stretchable electronics, made using 3D printing, will become more commonplace going forward.

If your company is using 3D printing, you may be eligible for the federal R&D Tax Credit.  Contact a Swanson Reed specialist to see if you qualify.

Toyota makes generous research donation

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Toyota has donated its Erlanger Kentucky engineering and research facility to become an innovative educational center serving the region.

One of the buildings at the Erlanger headquarters is now being donated to the Ignite Institute at Roebling Innovation Center, name after famed engineer John A. Roebling. The donated facility is a 183,000-square-foot Quality and Production Engineering Laboratory and will serve as a science, technology, engineering, art and math education center.

Toyota hopes that this enduring gift will inspire the next generation of local workers to be creative, engaged, highly skilled, tech-savvy and work-ready problem solvers.Toyota’s goal through the donation of its research facility is to create a lasting positive impact by helping to prepare students for the next generation of jobs, and they encourage other large companies and businesses to do the same.

The school will allow a capacity of 1,000 students from grades 9-12, with the first class expected to take place in the 2019 school year. Through Toyota’s generous donation, Boone County Kentucky will be able to offer it’s students the best education in research, development and innovation. The entire school will be based on a project-based learning and real industry-case methodology, which aims to empower students and offer them the opportunity of a lifetime throughout their schooling and also after they graduate.

Following the donation, the Kentucky Government announced a $6.8 million construction of research facilities grant to further develop the facility to suit the requirements and environment of 9th-12th grade schooling. This partnership between Toyota and local education of Kentucky serves as proof that the state is on track to become the nation’s unparalleled hub of engineering and manufacturing excellence.

To find out whether your company is eligible for a state research credit for construction of research facilities  Contact a Swanson Reed specialist.

U.S. Universities Spending More on Research and Development

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U.S. universities are spending more and more on R&D these days. In 2015 alone, colleges and universities spent a combined $68.8 billion on research and development with the top 20 colleges accounting for 30% of that.

To discover the universities spending the most in research and development, 24/7 Wall St. assessed R&D expenditure by university for the 2015 fiscal year with data from the National Science Foundation. Of the 1,871 major colleges and universities reviewed, 10 schools spent more than $1 billion on R&D.

Top 10 Universities for R&D Expenditure

  1. Johns Hopkins University in Baltimore, Maryland
    • Annual R&D spend: $2.31 billion
  2. University of Michigan
    • Annual R&D spend: $1.37 billion
  3. University of Washington
    • Annual R&D spend: $1.18 billion
  4. University of California, San Francisco
    • Annual R&D spend: $1.13 billion
  5. University of California, San Diego
    • Annual R&D spend: $1.10 billion
  6. University of Wisconsin – Madison
    • Annual R&D spend: $1.07 billion
  7. Duke University in Raleigh, North Carolina
    • Annual R&D spend: $1.04 billion
  8. Stanford University in Stanford, California
    • Annual R&D spend: $1.02 billion
  9. University of California, Los Angeles
    • Annual R&D spend: $1.02 billion
  10. Harvard University in Cambridge, Massachusetts
    • Annual R&D spend: $1.01 billion

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If your company is conducting R&D through a local university or college, you may be eligible for a higher R&D tax credit rate. Contact a Swanson Reed specialist to find out more information.

Alaska May Be Getting the World’s First Modern Cargo Airship

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Alaska may be the home base for the world’s first modern cargo airship once the aircraft is completed by Lockheed Martin’s assembly line in 2019.

The innovative aircraft involves an Anchorage logistics company that plans to use the helium-filled airship to carry freight and workers to remote sites.

The owner of PRL Logistics said the aircraft will safely support remote Alaska resource projects while giving emergency personnel another way to save people in areas that are difficult to get to.

“We hope this brings more work to Alaska,” said Ron Hyde, founder of PRL Logistics.

PRL Logistics will supply the ground support, like loading and offloading freight in Alaska and other areas.

The aircraft is not like your standard commercial jet. It moves across the sky at 65 mph and helium will provide 80% of the lift, with help from four engines. At 285 feet, it is longer than a 747 airplane and capable of carrying 22-ton loads.

“We don’t want to oversell it and say it can do everything and anything,” said Hyde. “Like any transportation asset, it will have limitations and those will become more known. But from an engineering perspective and everything we’ve been able to assess, we think this is a dependable and reliable option to move cargo and people.”

Please contact a Swanson Reed specialist for more information on the research and development tax credit.

GE opens oil and gas R&D center in Oklahoma

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Two test wells drilled deep underground and a well simulation towering five stories above, highlight the advanced research capabilities of GE’s Oil and Gas Technology Center.

GE have opened their oil and gas technology center in Oklahoma City, which is expected to become the central hub for the company’s scientists and engineers to collaborate with the oil and gas industry on digital and hardware solutions and advancements. The center consists of five stories and 125,000 sq ft of lab and office space, suitable for 230 employees.

The facility is designed to advance technology throughout the oil and natural gas industry, and is the company’s 10th worldwide research center, however, the first to specialize in one area.

GE’s CEO, Lorenzo Simonelli, says the research focus at the center will span across all areas of oil and gas such as; production solutions and well construction systems, oilfield facilities and systems, and reservoir performers. Simonelli believes a strong commitment to R&D will help the oil and gas customers find new efficiencies to work through tough market conditions and lead to transformational opportunities for the industry to thrive long term.

“This is a unique center from a global perspective and the plan is to be at the forefront and take the industry forward through applied technology,” Simonelli said. “Unconventional oil and gas drilling is taking place in other parts of the world. There is an opportunity to bring them in here to study and learn with others in the industry. This is going to provide the ability for commercialization of new technology and a new approach at a faster pace.”

The new technology center will accelerate innovation, the center will enable the full power of digital solutions and technology from across GE’s industrial businesses to advance the oil and gas industry.

While the oil and natural gas industry has used improved technology over the past decade to unlock vast amounts of oil and natural gas, the industry remains inefficient, said Mike Ming, general manager of the research facility. The new technology outcomes from this center will solve this issue by utilizing reserves in cost-effective and environmentally friendly ways and subsequently attracting companies from across the nation and around the world.

An innovative creation which has already been developed at the technology center is ‘Raven’ the prototype drone, engineered to detect emissions precisely and cost-effectively. ‘Raven’ has already been successfully piloted and was able to detect emissions from oilfield equipment at well sites in Arkansas. ‘Raven’ is one of many exciting developments to be produced from Oklahoma’s new research center.

To find out whether your company could qualify for the Federal Research Credit, Contact a Swanson Reed specialist.

How Does Your State Rank on the Innovation Scale?

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Innovation Is Key

Innovation is crucial to sustainable economic growth, but for innovation to occur businesses must have both the incentive and the capacity to invest.

As innovation is key to the United States’ economy as a whole, many U.S. states are showing off while others are falling short when it comes to patents, R&D, venture capital and academics.

So which states are excelling in innovation and which ones are lacking, you ask?

Patents

The top states in patents per population include:

  1. Wisconsin
  2. Washington
  3. Texas
  4. Utah
  5. California
  6. Massachusetts

The bottom five patented states include:

  1. Alaska
  2. Mississippi
  3. Tennessee
  4. West Virginia
  5. Wyoming

Venture Capital

The top states for venture capital are:

  1. Massachusetts
  2. California
  3. Utah
  4. Washington
  5. Colorado

The lowest are:

  1. Arkansas
  2. Alaska
  3. Hawaii
  4. Wyoming
  5. Iowa
  6. South Dakota

R&D Spending

The leaders in R&D spending are:

  1. Delaware
  2. Michigan
  3. California
  4. Connecticut
  5. Massachusetts

The states that spent the least on R&D include:

  1. Arkansas
  2. Wyoming
  3. Louisiana
  4. Alaska
  5. Mississippi

Academics

As for academics, the top states include:

  1. New Mexico
  2. Maryland
  3. Rhode Island
  4. Massachusetts
  5. Alabama

The lowest academic rankings were for:

  1. Louisiana
  2. Arkansas
  3. Delaware
  4. Wyoming
  5. Nevada

If you are a U.S. based company conducting R&D you may be eligible for the federal and/or state research tax credit. Please contact a Swanson Reed representative to find out further information.

BioVenture Forum in Oklahoma Encourages Entrepreneurship

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The Oklahoma Medical Research Foundation (OMRF) BioVenture Forum aims to facilitate interactions between international scientific teams and the biotechnology community, demonstrating scientific achievements from Oklahoma to potential investors. “When people think of Oklahoma, they think of oil and gas… We want them to see a biotech mecca here, as well,” said Manu Nair, OMRF’s Vice President of Technology Ventures. One of the companies showcased at the forum was Oklahoma-based Selexys Pharmaceuticals, which has turned out to be a great entrepreneurial success story for the state.

In November 2016, the largest life sciences agreement in the history of Oklahoma was signed. Selexys were acquired by Novartis, who are the second largest pharmaceutical company in the world, for $665 million. This was one of the top five mergers of US-based companies in the last quarter of the year.  Before the takeover, the start-up received investment funds from i2E (an Oklahoma-based small business) and the Oklahoma Life Sciences Fund, as well as around $12 million in grants.

Historically, venture capital has been in short supply in Oklahoma. Start-ups in Oklahoma are now being supported, thanks to the state’s model for developing venture capital. This includes both state and private funding from organizations like The Oklahoma Center for the Advancement of Science and Technology and i2E. While Oklahoma cannot compete with states like Massachusetts or New York, the cost of undertaking research there is lower, so investment funds can go further.

Former Selexys CEO, Scott Rollins, is now running another Oklahoma-based pharmaceutical company, Tetherex Pharmaceuticals, which aims to develop a treatment for Chrohn’s disease and cancer. Companies like this will benefit both Oklahoma and the global community for years to come.

There are many research activities that qualify pharmaceutical companies for the R&D Tax Credit. Contact a Swanson Reed specialist to learn more.

Oklahoma Company Turns Towards Innovation and R&D to Help Boost Business

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Oklahoma City-based oil-field manufacturer Kimray Inc. has begun an R&D project to upgrade its signature valves and other equipment to run on electricity instead of methane or compressed air.

“It’s just going to evolve. I hope we don’t ever have a timeline to when it will be finished,” said Mark Anderson, Kimray’s product support manager. “As technology improves, the things we’re able to do it will just keep going.”

The new design will further reduce emissions and give operators more control of their equipment remotely which will decrease the need for travel. Remote operation is also less expensive and safer.

“If you’re in the energy industry any length of time, you’re going to have people talk about safety,” Anderson said. “The most dangerous thing we do is drive. It’s not the pressure. It’s not the work. It’s driving to and from locations. If we can keep people off the road to make changes and monitor leaks, it will also reduce our environmental impact. That’s a key thing to what we’re doing.”

Kimray is proof that innovation isn’t slowing down with the downturn of the oil and gas industry.

“The downturn actually helped us to know we were on the right track, heading in the right direction,” Anderson said. “It motivated us to get things done and speed things up.”

Many other oil and gas companies are following in Kimray’s footsteps and looking towards innovation and R&D to keep things afloat.

The Oklahoma R&D tax credit is available for those companies conducting R&D within the state. To find out if your company is eligible, please contact a Swanson Reed specialist for further information.

 

Albuquerque builds $35 Million high-tech R&D hub!

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Construction of the first building in Albuquerque’s high-tech research and development hub has officially begun in Central and Broadway Downtown.

The $35 million, 160,000-square-foot facility will house the University of New Mexico’s tech-transfer office and Innovation Academy, along with start-ups and partners involved in collective efforts to build a bustling, high-tech business zone in the heart of Albuquerque. The building will also provide housing for students studying in the entrepreneurial education programs and launching businesses.

Citizens of Albuquerque are very excited about the construction progression of the city’s R&D hub and are eager to be the first to take a tour when it is due for completion in August 2017, they believe the facility will forever change Albuquerque’s downtown skyline and will revitalize the whole area.

The R&D hub will facilitate education for entrepreneurs, provide lab facilities for state research universities and will reserve 2,000 square feet for the Air Force Research Laboratory to open a tech-transfer office.

It is already predicted that the University of New Mexico will intake 500 students into their own academy section of the R&D facility. This Academy will allow students to receive direct experience and real-world skills in entrepreneurship. The academy will consist of meeting areas, classrooms, individual working spaces and a state-of-the-art visualization room.

Academy Director, Robert DelCampo, describes the R&D hub as a one-stop shop, as students will live upstairs in trendy apartments, work on new technology and business ideas downstairs, and then walk to the Supporting Technology Transfer Center next door to get help taking their developments to the market.

While building such an innovation facility may be a huge investment, New Mexico state board strongly supports encouraging the future of its current and upcoming generations. Innovation is the future, without innovation, fresh ideas cannot be developed, resulting in the demise of projects and organizations.

The people of Albuquerque identified the need to significantly invest in the future of its entrepreneurs, business owners and organizations, by building this R&D facility, and are highly optimistic about the positive future outcomes resulting from it.

If you are an entrepreneur, business owner or are simply wanting to know more about R&D and how you may be eligible for the R&D Tax credit, contact a Swanson Reed specialist today.