Competitive R&D Incentives Help Attract Over 30 Information Technology Businesses To North England.BOSTON -- The North of England Inward Investment Inward investment is the injection of money from an external source into a region, in order to purchase capital goods for a branch of a corporation to locate or develop its presence in the region. Agency (NEIIA NEIIA North of England Inward Investment Agency ), the organization responsible for promoting direct business investment from North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. into Northern England Northern England, The North or North of England is a rather ill-defined term, with no universally accepted definition. Its extent may be subject to personal opinion and many companies or organisations have differing definitions as to what it constitutes. , today announced that over 30 U.S.-based IT companies have located or expanded their operations in North England over the past year. The announcement was made at the WiMax World Conference & Expo, one of the largest wireless and mobile broadband Description Mobile Broadband is a type of wireless internet access that differs from Wi-Fi. Mobile Broadband is the name used to describe the 3G services which are made possible by HSDPA and HSUPA, the latest technologies on the W-CDMA evolutionary path. solutions events opening today in Boston, and illustrates the growing trend of IT companies looking to expand their businesses abroad to gain the competitive advantages needed to succeed in today's rapidly changing business environment. Three Boston area companies, Amperion, a provider of Broadband over Power Line (BPL See broadband over power lines. ) technology, Application Security, a provider of enterprise database security solutions, and Applied Science Laboratories, a leading eye tracking technology developer, have all made significant investments to establish a presence in North England largely due to the many universities and technical colleges in the region, which ensure a rich flow of personnel with necessary IT and software skills. In addition to the region's sophisticated workforce, North England offers an unparalleled R&D tax credit that allows qualifying IT companies to claim enhanced tax relief for their qualifying R&D spending. Implemented by the British government with the aim of encouraging companies to house a proportion of their R&D related activities within the UK, the credits help to promote investment in innovation with the ultimate goal of creating high-quality jobs in North England. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the NEIIA, currently there are two tax programs which are based on the size of the company applying for the tax credit. Emerging start-up companies can claim 150% tax credit relief if they incur qualifying R&D expenditure. However, a large company can deduct 125% of the qualifying current spending on R&D when it calculates its taxable profits. "The North of England employs more people in telecommunications than any other UK region, and relevant salaries are more than 20 percent lower than in London," said Megan Heard, senior vice president of North of England Inward Investment Agency, who is based in Boston. "With the added bonus of the R&D tax credit, U.S. and Canadian businesses looking to expand globally have a great opportunity to break new scientific or technological ground without the customary drain on financial resources." About North England With a population of over 14 million people (7 million skilled employees), North England is home to more than 3,600 foreign companies including 1,500 from North America. With a GDP GDP (guanosine diphosphate): see guanine. that exceeds $300 billion, the region's economy is bigger than that of Austria, Sweden and Belgium. North England boasts internationally renowned cities, such as Manchester, Newcastle, Liverpool, Leeds and Sheffield, each of which offers truly distinctive commercial environments with strong expertise in the IT, energy, healthcare, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and aviation/aerospace sectors. In addition, the region possesses direct air links with nine gateway cities The Gateway Cities of Southern California are those located in southeastern Los Angeles County. There is some cross-over between these cities and those composing South Los Angeles, East Los Angeles, the South Bay, and the San Gabriel Valley. in North America and throughout Europe. About The North of England Inward Investment Agency The North of England Inward Investment Agency (NEIIA) is a UK Government sponsored organization that provides advice, and collaborates and partners with businesses--from small technology start-ups to global 100 companies--seeking to gain entry and succeed in the European market through a North England location. NEIIA represents the three key Regional Development Agencies of Northern England--Northwest Development Agency, Yorkshire Forward Yorkshire Forward was set up by the UK Government to promote sustainable economic development throughout the Yorkshire and Humber region. One of England's nine RDAs it is a business led organisation that aims to help improve the region’s relative economic performance and and One NorthEast--in the USA and Canada from offices in Chicago, Boston, Los Angeles and Atlanta. For more information, please visit: www.northengland.com. |
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