In an effort to do our part in creating new technology jobs, and to keep innovation here in the United States, NSCA partnered with Houston-based alliantgroup to introduce integrators to a very important federal stimulus program: the R&D tax credit.
The first thing we usually hear from integrators about this tax credit is, “We don’t qualify because we don’t do any R&D” – but it turns out that we just have to look at things differently.
The R&D tax credit was specifically designed for the benefit of companies that design, integrate, and implement technical solutions for their clients – companies just like yours. The credit has been in place and used by hundreds of adjacent industry firms for years.
NSCA members have only recently become aware of how important this tax credit is; while some companies believe that they are using tax credits to the fullest extent permissible already, that’s likely not the case.
In nearly every instance where alliantgroup reviews the project profile and level of integration performed by a specific company, it turns out that money has been left on the table.
Here are some examples of the tax savings we’ve uncovered for our members:
- Integrator in Iowa: $300,000
- Integrator in Missouri: $200,000
- Integrator in Indiana: $250,000
- Integrator in California: $800,000
- Integrator in Missouri: $1.1 million
In just six months, 22 NSCA members uncovered more than $10 million in tax savings! And these are companies just like yours, working on AV integration, security and control systems, building automation and life safety, custom programming, etc. In most instances, these firms have used their tax savings to hire the best and brightest people in the industry so they can continue to offer advanced technical solutions that fit the tax-incentive profile.
Want to learn more about how you can potentially save hundreds of thousands of dollars with the R&D tax credit? Contact us today!
Finding Great Hires
NSCA has also developed a plan to help integrators find the great hires that their tax savings are being used for. Thanks to the NSCA Education Foundation’s funding, and its newest program – IGNITE – we are reaching out to technical colleges, community colleges, STEM high schools, and universities with relevant curriculum to educate about our industry and the career options available.
IGNITE already has 74 “ambassadors” – NSCA members that have volunteered to be the “feet on the street,” helping to spread the good news of an industry that is growing fast and hiring.
The IGNITE program is off to a great start, led by an energetic group of members, including Kelly Perkins of AVI Systems, Laurie Englert of Milestone AV Technologies, Lauren Simmen of SurgeX, and Mike Shinn of IMS Technology Services.
The committee recently met to develop a strategic plan that involves outreach, awareness, testimonials, and case studies. The IGNITE mission is simple: build awareness and fill the void.
NSCA members will benefit from having a roadmap that guides them through the recruitment, hiring, and training process – from first impressions all the way through to an orientation and onboarding program. The goal is to link NSCA members’ talent management plan and recruitment websites to the IGNITE program and tools we offer.
Talent Management Continuum
NSCA views this R&D tax credit as a talent management continuum: a wonderful job creation and stimulus package combined with a volunteer/grassroots effort to recruit new talent to fill the jobs necessary for integrators to grow their businesses.
I’m very excited to see how this turns out. As we go along, we will share the success stories from the perspectives of employers and new employees. We have a lot of work to do – we all know that the level of awareness about our industry in the academic channel is quite low – but you have to begin somewhere. And this seems like an awesome place to start. –Chuck Wilson, NSCA Executive Director