Kuster: Expand, Make Permanent the Federal R&D Tax Credit
During visit to Airmar, underscores importance of R&D to innovation, job creation in Granite State
Milford, N.H., July 15, 2013
Expanding and making permanent the federal research and development (R&D) tax credit is critical to helping foster innovation and job creation in New Hampshire’s economy, Congresswoman Annie Kuster (NH-02) said today during a “Congress at Your Company” visit to Airmar Technology Corporation.
MILFORD, N.H. – Expanding and making permanent the federal research and development (R&D) tax credit is critical to helping foster innovation and job creation in New Hampshire’s economy, Congresswoman Annie Kuster (NH-02) said today during a “Congress at Your Company” visit to Airmar Technology Corporation. Kuster toured and met with staff at the Milford-based company to learn more about their cutting edge research, and to underscore the importance of rewarding innovation in the economy.
“My top priority in Congress is helping create jobs and opportunity for the middle class, and fostering innovation in our economy is at the heart of that goal,” Kuster said. “New Hampshire is home to some of our country’s most cutting-edge, innovative businesses. We need to be doing everything we can to create an environment that helps these companies succeed, innovate, and create jobs. That’s why it’s so important for Congress to expand and make permanent the federal R&D tax credit.”
In recent decades, Airmar has emerged as a world leader in ultrasonic sensor technology for both industrial and marine applications. More recently, the company has expanded their product line by designing and manufacturing weather stations, heading sensors, and broadband transducers. Airmar’s team of scientists, engineers, and technicians lead an aggressive R&D operation that has been crucial to Airmar’s continued success. Over the past two years, the federal R&D tax credit has supported 4-5% of the company’s R&D investments. Without Congressional action, the federal R&D tax credit will expire at the end of the year.
"We were very excited to have Congresswoman Kuster visit Airmar Technology,” said Matt Boucher, President and Chief Operating Officer of Airmar Technology Corporation. “We had a chance to discuss the importance of training a well-educated workforce, as well as the benefits of extending the federal research and development tax credit – both of which are critical to our company’s success. We look forward to working with her on these important issues in the future."
Expanding and making permanent the federal R&D tax credit is a key provision of the “Make It In America” agenda that’s focused on creating the best conditions for businesses to innovate and create jobs right here in the U.S. The “Make It In America” plan emphasizes four key priority areas: adopting and pursuing a national manufacturing strategy, promoting the export of U.S. goods, encouraging businesses to bring jobs and innovation back to the U.S., and training and securing a 21st century workforce. Kuster is a founding member of the “Make It In America” working group.
In January, Kuster launched her ongoing “Congress at Your Company” series to hear directly from business leaders about ways the federal government can better support job creation and economic growth in the Granite State.