ND company invests $240m into soybean production facility

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Minnesota soybean processors are in the early stages of doubling in production with a new $240 million soybean facility starting up in North Dakota. The new facility will crush approximately 125,000 bushels of soybean a day, which is 10,000 more than the Minnesota facility.

With the high market demand for soybean, a second facility with higher crush capacities was necessary in order for the co-op to remain competitive with other soybean processors. As there has not been much recent growth of soybean processing in recent years, investing into such a facility, which will research alternative, innovative and effective methods to soybean processing was highly necessary.

General Manager, Scott Austin, says there is a large market for soybeans and the current facility in Minnesota has already been expanded and is reaching its limits, which lead to the rationale of purchasing additional land and researching into more effective methods to process soybeans and increase crush capacity.

As soybeans are the number one crop in North Dakota from an acreage perspective, it was seen as an appropriate location to open the new facility.

The new North Dakota site will consists of 150 acres and is located in the center of regions growing soybeans. When completed, the facility will create 55-60 full time jobs and will produce 900,000 tons of soybean meal for livestock feed, along with 490 million pounds of soy oil, both from bio-diesel and food-grade oil.  Currently the feasibility and engineering stages of the projects are being completed.

If your company is incorporating innovative production methods into its business practices, it may be eligible for the R&D Tax credit, contact Swanson Reed R&D Tax Advisers to find out more.

Boeing Research and Development Center in Charleston, SC

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A Boeing Research and Development center has opened in Charleston, South Carolina. The new 100,000 square-foot facility has created 300-400 jobs and focuses primarily on advancing manufacturing technology and composite fuselage development.

Greg Hyslop, vice president and general manager of Boeing Research and Technology, says the project is reorganizing and realigning the research and technology operations to better meet the needs of commercial airplanes and defense, space and security business units, as well as government R&D customers.

The South Carolina facility is the 11th Boeing R&D facility established. Boeing currently already employ over 8,000 people in South Carolina and over 80,000 in Washington state.

The North Charleston factory is capable of producing all three variants of Boeing’s newest and biggest Dreamliner widebody aircraft.

In addition to South Carolina, Boeing has also opened new R&D centers in Seattle, Alabama, Missouri and California.

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.

Atlantic Core Building Products Announce New Facility in Virginia

Atlantic Core Building Products will build a steel manufacturing plant in Chesapeake. While the exact location and construction timeline have not been mentioned, the center is expected to cost $3 million and will create 50 jobs. The new center will produce industry-leading stud and track systems as well as weather resistant vinyl beads and trims for buildings across the Eastern US, Caribbean and Latin America.

Virginia went up against North and South Carolina before successfully securing the project. Ryan Smith, President of Atlantic Core Building Products remarked that, “After considering several ports on the eastern seaboard, we found that Virginia has an excellent workforce, world-class port facilities, strong incentives and an easily accessible strategic location. From our plant, we can service 40 percent of the U.S. construction market and our export customers in Latin America.”

John F. Reinhart, CEO and Executive Director of the Port of Virginia stated, “The Port of Virginia is pleased to welcome Atlantic Core Building Products to Virginia… Atlantic Core is going to bring investment, jobs and new revenue to the Commonwealth and the region. Our port offers very diverse cargo handling capabilities and Newport News Marine Terminal is a good fit for handling the coiled steel Atlantic Core will import.”

The project will be supported by the Virginia Jobs Investment Program (VJIP), which enhances job opportunities by providing services and funding to companies creating new jobs or undergoing technological change. Atlantic Core Building Products will also receive incentives from the Port of Virginia Economic and Infrastructure Development Zone Grant Program and will qualify for tax exemptions on manufacturing equipment.

Atlantic Core Building Products will join almost 6,000 manufacturers operating in Virginia. Combined, these companies generate over $113 billion per annum. Over two-thirds of private sector R&D in the US is undertaken by the manufacturing industry, with the majority of new patents coming from the sector.  This results in productivity gains, better quality goods and ultimately economic growth. To see whether your company can take advantage of the R&D tax credit, speak to one of our expert advisors at Swanson Reed.

$100 Million R&D facility opening at Rowan University NJ

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Rowan University, together with the senate president, Steve Sweeney, and lieutenant governor, Kim Guadagno, have announced that the Spanish multinational veterinary pharmaceutical company, HIPRA, will establish its North American headquarters in South Jersey Technology Park at Rowan University, New Jersey.

HIPRA will purchase 25 acres of the technology park’s 180 acres on Rowan’s west campus and invest $100 million into building the 375,000 square ft research and development facility, which will create over 200 new high-technology jobs.

“The United States is a critical market for our firm and its continued growth, the South Jersey Technology Park will provide the company with an ideal location to expand its operation in the United States and distribute its products worldwide. ” said Arnau Nogareda, HIPRA’s managing director.

According to Nogareda, the technology park was selected after evaluating numerous first-class host sites and consideration of research that had already been carried out, which showed to be impressive, particularly in the areas of science and engineering.

It is anticipated that by establishing the North American research headquarters in New Jersey, HIPRA will create short and long-term employment opportunities in diverse fields, such as construction and biomedical engineering. In addition, the facility also plans to open the door to spin off companies, benefit local businesses that will serve its employees, and will be especially valuable for the faculty and students working in the sciences, engineering and business.

HIPRA’s r&d technology park will be an excellent fit for the University’s overall goals, as it will attract new partnerships that provide opportunities for the faculty, and will allow students to conduct and produce real life research that will help to further develop the regional economy.

The HIPRA and Rowan University board are excited about the future outcomes resulting from the collaboration and are thrilled to be able to grow the concept of R&D projects in New Jersey, in hope it will spark encouragement for other companies to do the same.

To find out whether your company’s activities may qualify for the R&D Tax credit, contact Swanson Reed R&D Tax Advisers.

$40 Million Manufacturing Plant to be Built in Tennessee

Both national and international businesses are looking to build new manufacturing plants in the US, and Tennessee is likely to benefit. Last year, foreign companies like Volkswagen, Gestamp and Yangeng expanded to Tennessee and more are expected to move here in 2017.

Rockline Industries, a Wisconsin-based company, plan to open a $40 million, 435,000-square-foot manufacturing plant in Morristown that will begin operations in 2018. The consumer products manufacturer will form a new subsidiary, Iatric Manufacturing Solutions, to specialize in FDA-regulated wet wipes, a product that has been in high demand in recent years.

“Manufacturing is one of Tennessee’s top industries, employing over 333,000 Tennesseans, and I am grateful that Rockline will expand this growing sector by creating 250 new jobs in Hamblen County” said Bob Rolfe, Commissioner of Tennessee Department of Economic and Community Development, “The pipeline in Tennessee right now for new projects is probably as grand as it has ever been.”

In a 2016 report by Brookings, Tennessee ranked first in the US for growth in advanced industry jobs, growing by 4.6% p.a. from 2013 to 2015 (the national average was 2.46%). Advanced industry companies include sectors like manufacturing and technology and are defined as those that spend over $450 per worker per annum on R&D, and employ at least 20% of their workforce in STEM jobs.

Governor Bill Haslam stated that, “Our goal has been to make Tennessee the number one location in the Southeast for high-quality jobs, and this recognition by Brookings shows we’re making tremendous progress by adding highly-skilled jobs faster than any other state in the country.” Tennessee’s goal is to create 25,000 new jobs this year, 4000 more than last year.

Did you know that up to 80% of manufacturers do not realize that they may be eligible for the R&D tax credit, a credit worth around $10 billion per annum? If you are unsure about whether you qualify, contact Swanson Reed R&D Tax Advisors for an obligation-free assessment.

Alaskan Oil Field Discovery Comes Just In Time

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New Oil Field To Help Boost Alaskan Economy

A vast oil field has been discovered in the northern section of Alaska and could play a big role in increasing Alaska’s energy production industry.

Caelus Energy made the discovery about 300 miles north of the Arctic Circle and believes it could extract somewhere between 6 to 10 billion barrels of oil from the area.

“The discovery could be really exciting for the State of Alaska. It has the size and scale to play a meaningful role in sustaining the Alaskan oil business over the next three or four decades. Fiscal stability going forward is critical for a project of this magnitude,” said Jim Musselman, Caelus CEO.

The plan is to build an $800 millon 125-mile pipeline to connect with existing pipelines in other parts of Alaska.

The discovery has come just in time for the Alaskan oil industry. Without it, Alaska could be nearing a total collapse of its oil industry and economy if it doesn’t come up with a solution to prevent the continuing decline of its production efforts.

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If you are a U.S. company conducting R&D and are interested in claiming the R&D tax credit, please contact a Swanson Reed specialist.

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.