Yesterday NAM Board Member and President and CEO of Marlin Steel Wire Drew Greenblatt unveiled a new laser at their facility in Baltimore Yesterday. In attendance at the event was Baltimore Mayor Stephanie Rawlings-Blake (D-MD), Senator Ben Cardin (D-MD), Congressman C.A. “Dutch” Ruppersberger (D-MD) and Congressman John Sarbanes (D-MD).
Marlin Steel Wire President and CEO Drew Greenblatt is jointed by Sen. Ben Cardin (D-MD), Baltimore Mayor Stephanie Rawlings-Blake (D-MD), Rep. C.A. "Dutch Ruppersberger (D-MD) and Rep. John Sarbanes (D-MD) at the ribbon cutting for a new state of the art laser.
Important policies such as the R&D tax credit and bonus depreciation allow companies like Marlin Steel to invest in new technology and equipment. This investment helps create jobs not only with the companies purchasing the equipment but also the manufacturers of the equipment and all the way down the supply chain.
Yesterday’s event was a great opportunity for these members of Congress to see first-hand the impact of these policies.
January 14th, 2012 on 5:38 pm
Research and Development costs are extremely expensive. Often times research and development on development of lasers and other manufacturing equipment can cost millions of dollars. These costs are often times flushed away if the product they are being used for doesn’t turn out to be as important as expected.
Having tax credits for research and development can be beneficial, but at the end of the day if a company wants to grow they need to reinvest. Reinvesting into new products is a gamble that you must make to try and stay ahead of the competition. Investing is a must to continue growing.