Kuster Touts Workforce Development, R&D Tax Credits at Salem Company

Congresswoman Annie Kuster (NH-02) stopped by Salem's Corfin Industries Wednesday as part of her ongoing effort to promote local economic growth.

The visit was a continuance of Kuster's "Congress at Your Company" series, which she launched during her first month in office.

Corfin Industries, which started 22 years ago with just a few employees, has since expanded to about 90 people.

The company began in telecommunications but has emerged as a manufacturer providing component preparation services to a variety of industries, including defense and medical.

Corfin Industries has also become a preferred supplier of high reliability electronic systems in the global manufacture of missles, avionics and medical devices.

A focal point of Kuster's discussion with the company staff included her fight to expand and make permanent the federal research and development (R&D) tax credits.

Kuster currently supports a bill that would expand the credit from 14 percent to 17 percent. Corfin Industries utilizes the R&D tax credit.

"The R&D tax credit for me is trying to give American companies that innovation advantage to be able to stay on the cutting edge," Kuster said during a conversation with Corfin Industries Managing Director Donald Tyler.

Kuster also touted a bill that she introduced in Congress two weeks ago called the Workforce Development Investment Act.

"I'm working on getting co-sponsors and getting it through the process, but what it's about is tax incentives for companies to work with community colleges or educational institutions on creating these programs that would help to produce graduates with the skill sets that we need here."

The bill would provide up to $10,000 in annual tax credits to employers.

Both expanding and making permanent the R&D tax credit and developing a 21st century workforce are part of what Kuster calls the "Make it in America" plan.

Much of the business done by Corfin Industries is international, including Italy, Germany and Israel.

In June, the company participated in the 50th International Paris Air Show. The company regularly takes part in trade shows both domestic and international.