iSciences Secures Funding Award from NASA

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iSciences LLC has secured funding from NASA for a 3-year project: Sustaining the Geospatial Data Abstraction Library.

NASA recently awarded $15.6 million in grant funding to 15 different projects in an effort to support the maintenance of open-source tools, frameworks, and libraries used by the NASA science community, for the benefit of all.

The grants are funded by NASA’s Office of the Chief Science Data Officer through the agency’s Research Opportunities for Space and Earth Science. 

iSciences has made a name for itself, monitoring freshwater resources and forecasts with a proprietary Water Security Indicator Model. The company secured funding from NASA’s Sustainment Awards category. The funding will support the company as they strive to support and sustain a geospatial data abstraction library – a tool essential to evidence0based analysis.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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

BioLabs and UVM to Open New R&D Incubator

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The University of Vermont (UVM) and Cambridge-based BioInnovation Labs (BioLabs) have announced plans to launch a dedicated incubator at UVM’s Colchester facility.

The partnership will provide a space to support entrepreneurs and start-up companies specializing in all areas of life sciences R&D with fully equipped combination office and laboratory space. 

Through this strategic partnership, UVM will oversee the new facility and provide technology, equipment, and direct collaboration with faculty at The Robert Larner, M.D. College of Medicine at the University of Vermont. The college includes nearly 200 research faculty and over 700 clinical faculty who practice in the UVM Health Network. BioLabs will support UVM with facility operations, access to industry partners, and networking and programming events.

Currently, BioLabs partners with an elite group of universities, pharma companies, and other engaged stakeholders worldwide. The UVM-BioLabs partnership reinforces the university’s steadfast commitment to research, education, and innovation. Additionally, UVM is the first rural university to join the BioLabs ecosystem.

Although the Center is expected to open in late 2025, the BioLabs Innovation Center at UVM will begin accepting applications and hosting tours in the coming months.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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

Benchmark Space Systems to Expand Internationally

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Vermont’s own Benchmark Space Systems has announced their plans to expand globally, opening a new location in England. While growing internationally, the company intends to continue to grow its business in Vermont.

The company makes products that propel small satellites in space using hydrogen peroxide. This solution provides a cleaner satellite propellant as compared to industry alternatives. They intend to develop solutions that target pain points in propulsion systems. While their non-toxic propellants tackle a major pain point, the company has also tackled thrusters, propellant tanks, modular control electronics, and intelligent GNC integration frameworks. Combined, they have developed a plug-and-play solution customizable to mission objectives.

The new location will support the scale up of their manufacturing in order to meet industry demand. Along with this new location, the company has signed a contract with UK startup Space Forge and plans to add more to the list.

“We’re engaged with a handful of companies, nothing that I can announce officially today,” he said. “But we do have some new contracts that will be coming up here shortly that hopefully we’ll be able to announce by the end of the summer.”

The company has experienced rapid growth since their founding in 2017. In 2021, the company built three propulsion systems. They are on track to build 7 in 2022 and expect to build 80 in 2023. While the international expansion will help with this, the company is also doubling the space of their Vermont operations.

Benchmark has also had support from the federal level. In the past three years, the company has received over $2.8 million in federal contracts and grants from both NASA and the Department of Defense, as well as a $200,000 loan from the Paycheck Protection Loan Program (PPP) in April 2020.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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

UVM to Research Seaweed for Organic Dairy Cows

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The University of Vermont’s (UVM) Sabrina Greenwood will head a multi-institutional research team. Her team at the Greenwood Lab have been awarded $2.9 million to explore the potential animal health, environmental and economic benefits of seaweed as a feed alternative for organic dairy cows. The grant comes from the USDA’s newly funded Organic Agriculture Research and Extension Initiative projects to help improve yields, milk quality and profitability for organic farmers and producers.

We’ve seen a rise in demand for organic milk recently and along with this rise in demand, instability in pricing. This has put a heavy strain on the organic dairy community. In addition, farmers have voiced concerns and struggles with climate change and a rise in demand to reduce the industry’s environmental footprint. Greenwood and her team think seaweed could be a key solution to some of these problems. 

Seaweed is a nutritious alternative to traditional feed supplements which are made with corn and soybean. Seaweed also has the ability to reduce cow’s methane emissions. It can also be sustainable grown and offer benefits to soil health through altered manure profiles as the cows eat the seaweed.

“Teaming up with the aquaculture industry may be a perfect pairing to address organic farm sustainability and production efficiency in organic dairy,” said Greenwood, associate professor in the Department of Animal and Veterinary Sciences and the project director. “We are looking to holistically characterize the opportunities for organic seaweed to provide not only a more sustainable feed option, but one that could boost milk productivity and animal health without compromising natural resources.”

There are many different seaweed species, each with unique nutritional profiles and most which have not been studied. While kelp meal – a common brown seaweed – has become popular among organic farmers, other species may offer better benefits for cow health and milk productivity. 

The team at UVM will spend the next four years working with Bigelow Laboratory for Ocean Sciences, the University of New Hampshire, and Syracuse University to explore the nutrient profile of various seaweed species, processing methods, and their impact on animal health, milk quality, and environmental impact.

Are you developing new software for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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

Indicator Aims to Quantify your High

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Vermont professor, Ari Kirshenbaum, has developed an app to help quantify your high. Indicator is a free app using artificial intelligence and data analytics to measure and record how cannabis products affect them. Kirshenbaum believes this data could promote insight and awareness into cannabis effects and help create better safety efforts.

Kirshenbaum received a $224,000 grant from the National Science Foundation in September 2020 and used it to develop the mobile app. The app measures the effects of cannabis on a user’s neurocognitive functions from reaction time to concentration. The app uses “brain games” which have been proven successful in distinguishing THC effect from impairment by alcohol, other drugs, or dementia. Kirshenbaum had two stages of motivation for this research. His first stage was inspired as a concerned father who wanted to make the roads safer. He was later diagnosed with cancer and was opened to the possibility of cannabis as a therapeutic method. However, many people are concerned that it will impact their day-to-day skills and opt out. Kirshenbaum hopes to help individuals learn how THC affects them and potentially open them up to a helpful therapeutic treatment.

Kirshenbaum hopes that at the very least, the app will help to educate cannabis users about how different products and doses affect them. The ultimate goal is to gain a better ability to “quantify high” and work with all interested parties to promote safe and informed cannabis use.

Are you developing new software for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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

ThinkMD Develops a COVID-19 Screening tool for World-Wide Use

ThinkMD Develops a COVID-19 Screening tool for World-Wide Use

ThinkMD sprung into action with the advent of COVID-19, began designing a screening tool for use around the world. They released this screening app capable of triaging, determining when to seek medical care, and educating on how to prevent its spread. It’s even functional in 14 different languages. 

ThinkMD was founded in 2014 by physicians from the University of Vermont. They wanted to eliminate preventable deaths around the world. They knew millions of children died from treatable illnesses like pneumonia every year, and decided to do something about it. Healthcare decisions can be time sensitive, but accessing healthcare professionals is not always easy. So they collaborated with clinicians, engineers, data scientists, finance, and global health specialists to combine health care expertise with mobile technology. They came up with a diagnostic and treatment app, downloadable on virtually any laptop, tablet or smartphone.

They redesigned this tool to be COVID-19 specific, and released it as a free app to be used by anyone who needs it. They regularly update the tool based on information from the WHO and CDC and with country specific mandates in order to provide up-to-date advice and healthcare. And to ensure it is useful for anyone, after it is downloaded, the app remains fully functional offline. Data collected can be used to help ministries and international health agencies with developing and monitoring response strategies to mitigate the spread of COVID-19 and to maximize appropriate testing and healthcare delivery to those who need it the most.

Are you developing new software? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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

Burlington Residents Can Receive Rebates of Up to $8,700 on Electric Vehicles

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WalletHub has named Vermont as America’s Greenest State for 2017 based on environmental quality, eco-friendly behaviors and climate-change contributions. The environmentally-conscious state has committed to producing 90% of its electricity from renewables as well as reducing greenhouse gas emissions by 75% by the year 2050.

Reducing the reliance on fossil-fueled travel will have a significant impact on this goal, as transportation makes up 47% of all greenhouse gas emissions in the state. Each vehicle produces around three and a half tons of carbon dioxide each year.

In an attempt to reduce emissions and make Burlington a “net zero energy city,” Burlington Electric have organized an electric vehicle incentive program. Burlington residents and businesses will receive a $1,200 rebate on the purchase or lease of a new electric-only vehicle valued at under $50,000 (plug-in and conventional hybrids do not qualify for the rebate.)

Darren Springer, Manager of Strategy and Innovation at Burlington Electric, said that the offer can be used along with federal tax incentives of up to $7,500. These incentives make the price comparable to a conventional fossil-fueled vehicle for those looking to buy a new car. Burlington Electric is working towards having the rebate applied automatically when a new electric car is purchased, rather than having to fill in extra paperwork. They expect that the rebate will help to pay for 240 electric vehicles over the next four years.

The city of Burlington currently produces 100% of its energy from renewable sources. 41% of its power comes from a biomass plant that turns organic waste into electricity, 25% is from hydroelectric plants and 34% comes from solar and wind farms.

A range of incentives are available for businesses undertaking renewable energy projects. One of these is the federal research and development (R&D) tax credit, which aims to assist companies who are developing newer and more efficient products and services. Get in touch with us at Swanson Reed R&D tax advisors to find out more.

Top States for Doing Business 2016

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How does your state rank for doing business? CNBC ranked all 50 states for business using a range of publicly available data.  They used a points-based system for each of the 10 categories of competitiveness.

Here are the results:

Workforce

Rating based on education level of the workforce, the numbers of available employees, and the states’ demonstrated abilities to retain college-educated workers.

Top 5

  1. Colorado
  2. Massachusetts
  3. Virginia
  4. North Dakota
  5. Arizona

Bottom 5

  1. Maine
  2. Missouri
  3. Hawaii
  4. Vermont
  5. Kentucky

Cost of Doing Business

Rating based on the competitiveness of each state’s tax climate, as well as state-sponsored incentives that can lower the cost of doing business. Utility costs can add up to a huge expense for business, and they vary widely by state. Also considered was the cost of wages, as well as rental costs for office and industrial space.

Top 5

  1. Indiana
  2. Iowa
  3. Mississippi
  4. South Dakota
  5. Kentucky

Bottom 5

  1. Hawaii
  2. California
  3. Maryland
  4. Connecticut
  5. Massachusetts

Infrastructure

Rating based on the vitality of each state’s transportation system by the value of goods shipped by air, waterways, roads and rail. The availability of air travel in each state, the quality of the roads and bridges, and the time it takes to commute to work was taken into account, as was the condition of each state’s drinking water and wastewater systems.

Top 5

  1. Indiana
  2. Tennessee/Texas
  3. Tennessee/Texas
  4. Georgia
  5. Minnesota

Bottom 5

  1. Rhode Island
  2. New Hampshire
  3. Maine
  4. Connecticut
  5. Hawaii

Economy

Rating based on economic growth, job creation, consumer spending, and the health of the residential real estate market. Each state’s fiscal health was measured by looking at its credit ratings and outlook, as well as its overall budget picture. Also considered was the number of major corporations headquartered in each state.

Top 5

  1. Texas
  2. Colorado
  3. Utah
  4. Florida
  5. Oregon

Bottom 5

  1. Mississippi
  2. Maine
  3. Alabama
  4. West Virginia
  5. Louisiana

Quality of Life

Rating based on livability, including several factors, such as the crime rate; inclusiveness, such as antidiscrimination protections; the quality of health care; the level of health insurance coverage and the overall health of the population. Also evaluated were local attractions, parks and recreation, as well as environmental quality.

Top 5

  1. Hawaii
  2. Minnesota
  3. Vermont
  4. New Hampshire
  5. Maine

Bottom 5

  1. Arkansas
  2. Missouri
  3. Oklahoma
  4. Louisiana
  5. Tennessee

Technology and Innovation

Rating based on support for innovation, the number of patents issued to their residents and the record of high-tech business formation. Also considered were federal health, science and agricultural research grants to the states.

Top 5

  1. Washington
  2. California
  3. Massachusetts
  4. New York
  5. Maryland

Bottom 5

  1. Mississippi
  2. West Virginia
  3. Wyoming
  4. Arkansas
  5. Louisiana

Education

Rating based on the number of higher-education institutions in each state, as well as long-term funding trends for higher education. Also evaluated were several measures of K–12 education, including test scores, class size and spending, as well as digital and lifelong learning opportunities in each state.

Top 5

  1. Massachusetts
  2. Minnesota
  3. Wyoming
  4. Illinois
  5. Virginia

Bottom 5

  1. Nevada
  2. Idaho
  3. Mississippi
  4. Arizona
  5. Alabama

Business Friendliness

Rating based on the freedom each state’s legal and regulatory frameworks provide for business.

Top 5

  1. New Hampshire
  2. South Dakota
  3. Virginia
  4. North Dakota
  5. Idaho

Bottom 5

  1. California
  2. West Virginia
  3. Illinois
  4. Mississippi
  5. Hawaii

Cost of Living

Rating based on cost of housing, food and energy.

Top 5

  1. Mississippi
  2. Kentucky
  3. Arkansas
  4. Alabama
  5. Tennessee

Bottom 5

  1. Hawaii
  2. New York
  3. Delaware
  4. California
  5. Connecticut

Access to Capital

Rating based on venture capital investments by state, as well as small-business lending on a relative basis.

Top 5

  1. Illinois
  2. North Carolina
  3. California
  4. Michigan
  5. New Jersey

Bottom 5

  1. Wyoming
  2. Vermont
  3. West Virginia
  4. Delaware
  5. New Mexico

Many US businesses can take advantage of the state and/or federal R&D tax credit. Please contact a Swanson Reed representative to find out what is available in your state and whether your business qualifies.

Slow but steady economic growth in New England states

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The New England economy has continued to move in a positive direction, according to the Federal Reserve Bank of Boston. The economy has seen consecutive yearly increases in employment as of the third quarter of 2016. These increases have been led by construction, hospitality, and information industries.

Only a year earlier in 2015, much of the region lagged the nation in terms of economic recovery. By September 2016 unemployment was as low as 2.9 percent in New Hampshire, 3.3 percent in Vermont, 3.6 percent in Massachusetts, and 4.1 percent in Maine, all lower than the national average of 5.0 percent that month.

Technology Driving Growth

Technology-related sectors are major economic drivers in New England, particularly in the R&D focused area of Massachusetts, which for generations has been renowned for the brainpower residing on its university campuses. The State Technology and Science Index from the Milken Institute once again named Massachusetts the nation’s most innovative state, continuing its strong run since 2002).

Among the region’s biggest tech-related headlines was word from Akamai Technologies that it plans to expand its corporate headquarters in Cambridge, Massachusetts. The tech company is spread across six buildings currently present, however plans to consolidate into two. In the process 700 jobs are expected to be added to the 1,666 already there. Another 400 new tech jobs are promised in Lowell, where cloud-based workforce management solutions provider Kronos plans to move its headquarters from nearby Chelmsford.

Rhode Island may be small but it gets its share of technology development, too. One of the past year’s biggest announcements involved plans by GE Digital to launch an information technology center in Providence, with the potential to create hundreds of new jobs, starting with about a hundred at the outset. The company cited strong university partnership opportunities and a healthy tech talent pipeline in making its decision.

The life sciences are historically strong in the region, led by Massachusetts. Among the developments, Siemens Healthcare Diagnostics intends to invest $300 million in an expansion of its office, warehouse, and lab space in the Massachusetts community of Walpole. As many as 400 new jobs will join the 600-plus that will be retained.

Pro-Business Initiatives

There is wide spread initiative seeking to explore a variety of ways to grow the areas economies. The state of Connecticut plans to builds upon its economic strengths with a variety of programs designed to facilitate growth. Its Small Business Express program gives small businesses access to capital and job training, and has benefited more than 1,500 companies and contributed to the creation or retention of about 22,500 jobs. Meanwhile, the First Five Plus program is designed to boost large-scale expansion or relocation projects, with a focus on generating capital investment and creating jobs. According to a recent analysis of the program, just over a dozen companies have signed up to participate, and they’ve collectively invested more than $1.3 billion in infrastructure and human capital, creating nearly 3,800 jobs.

The state of New Hampshire is making a variety of ongoing investments to boost innovation. For example, nearly 200 companies were awarded research and development tax credits in the past year. Companies of all sizes are eligible for the state’s program, which is based on qualified manufacturing research and development. And the New Hampshire Department of Resources and Economic Development recently landed federal grant money to help businesses expand their global opportunities.

Among the ways Rhode Island supports business growth is the Innovation Voucher program. A recent round of voucher funding is supporting six small companies that have entered into R&D partnerships with local universities. The recipients are involved in everything from life sciences to wind energy advancements to wireless charging of unmanned air and underwater vehicles. Also recognizing that big ideas tend to start small, the publicly financed Maine Technology Institute recently launched a new round of seed grant funding for 19 fledgling tech companies, plus several development loans and TechStart grants. Maine’s leadership offered additional signals of the state’s intent to keep moving in business-friendly directions — the governor, for example, laid out a proposal to gradually scale back Maine’s income tax until it hits zero in 2024.