SR&ED in the Aerospace Industry
Canada is home to more than 400 aerospace firms employing nearly 80,000 skilled professionals. While this is a great number, the truth is that between the years 2001 and 2010, the GDP in the Aerospace Product and Parts Manufacturing industry decreased by $200 million.
Canada is able to stay at the forefront of aircraft technology development and application through a continued commitment to research and development. Whether through direct government investment, or through the federal Scientific Research & Experimental Development program, Canada's aerospace industry has a lot of funding to draw from in order to continue to further our knowledge and technology in this industry.
This is an industry where there is a constant push to become more technologically advanced. Globally, there is a large competition base and the Canadian aerospace industry must urgently showcase its own technological innovations. The existence and continuation of the SR&ED program is pivotal to the ongoing business plans and strategies of Canadian aerospace companies. Those companies whose work leads them to face technological uncertainties are eligible for the SR&ED program, to recover expenditures spent on experimenting and testing that will help them overcome these uncertainties.
You May Be Eligible If:
- Stringent regulation requirements in safety, design, engineering, weight, physical volume/size, and performance forced you to redesign products and processes
- You have experimented with new materials
- You have conducted research into human/machine interaction
- You have developed in-house software
To see how the experts at NorthBridge can help you with your SR&ED claim, contact us now for a free consultation.