Posts Tagged ‘success story’

Ontario Drive and Gear to Receive $1.5 Million in Funding From Province

A New Hamburg automotive parts manufacturer, Ontario Drive and Gear, is to receive $1.5 million in non-repayable funding from the Ontario government through the South Western Ontario Development Fund.  The money will be used to purchase new equipment, in turn adding 35 jobs to Ontario Drive & Gear’s current headcount of 117.

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NorthBridge Success Story: Ontario Manufacturer Leverages SR&ED Program to Compete in Automotive Industry

The automotive industry is constantly changing and seeking new innovations in product development in order to satisfy the ever-growing demands of consumers. One of our manufacturing clients in Ontario continuously develops highly innovative products to remain competitive in this industry; NorthBridge engaged with them to help optimize their refundable tax credits from the Scientific Research & Experimental Development (SR&ED)  program. NorthBridge helped train the employees to become compliant with SR&ED best practices, to generate contemporaneous documentation,  and to track eligible costs, which included materials consumed, direct labour, and subcontractor expenditures.

With the help of NorthBridge’s team of engineers and technical writers, the client was able to submit a detailed claim that was accepted as filed within a short duration of time following submission. This funding will allow the company to continue to invest in innovative automotive products and to remain competitive in the industry. Because of NorthBridge’s assistance and ongoing training, this manufacturer was able to increase their SR&ED claim expenditures for the current fiscal year.

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BC Manufacturer Receives SR&ED Tax Credits to Advance Product Development

In 2014, NorthBridge consulted with a manufacturer in British Columbia, in order to determine which new products and processes were eligible for financial reimbursement through the Scientific Research & Experimental Development (SR&ED) tax credit program. This manufacturer consistently invested in new development and had taken advantage of the SR&ED tax credit in previous years.

Though the company had previously filed for SR&ED, they were not capturing all of the eligible costs related to new development. NorthBridge was able to identify additional SR&ED-eligible expenditures, which led to an increase in the size of their claim. As a result of our communication with the company and the diligent preparation of their SR&ED claim, the project expenditures were accepted as filed. The tax credit that was awarded will be invested in future development projects and will allow the company to stay competitive in their industry and realize new growth and success.

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NorthBridge Success Story: Ontario Manufacturer Leverages SR&ED Tax Credit to Invest in Product Development

NorthBridge engaged a manufacturer in Brant County that was looking to develop new products and processes for their manufacturing facility. In order to enter new markets and become more competitive, the company was looking to invest in research and development. They had looked into government funding programs but were unaware that they qualified and could be receiving government assistance for their projects. Our team was able to identify projects that qualified for the SR&ED tax credit. The SR&ED program can provide both refundable and non-refundable Investment Tax Credits (ITCs) for labour, materials, overhead, and subcontractor costs related to scientific research and experimental development (SR&ED).

Our NorthBridge team of engineers and technical writers worked with the company to prepare the claim and the project narratives for the R&D projects. As a result of our communication with the company and preparation of the SR&ED claim, the project expenditures were accepted as filed. The ITCs received will be invested in future development projects and will allow the company to stay competitive and reach new levels of success.

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Ontario Food Processor Qualifies for Employee Training on ERP System

NorthBridge engaged an Ontario food processor that was looking to invest in new ERP software for their manufacturing facility. The project included the purchase of the new software, the purchase of related technology and equipment, and employee training on the new software system. The purpose of the new ERP implementation was to increase efficiency, develop strict quality control, and reduce waste. The company was unaware of programs that helped fund employee training related to new technology implementation. They had previously claimed for R&D expenditures from the SR&ED program, but the SR&ED program does not cover training costs. Hence, NorthBridge was able to identify a training program that supported up to 50% of eligible project costs.

Our NorthBridge team worked with the company to prepare a business plan, and helped with the reporting requirements after the client was approved for the full funding amount that they had requested. The funding was directly invested in their training project and helped the company to realize new growth and success.

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