$100 Million invested into medical technology
The American medical technology company, Becton Dickinson (BD), which produce more than two billion insulin syringes per year, have announced a $100 million research project to expand the company’s Nebraska research facility.
The investment will support new manufacturing equipment and technology to expand production for BD insulin syringes. Insulin syringes are used by approximately 40 percent of people with diabetes as part of their management regimen. This research investment will provide significant benefits to the diabetes population and underscores BD’s commitment to supply high-quality, industry-leading syringes to patients.
BD’s Nebraska facility is 350,000 square feet in size and was established in 1966. The facility houses more than 650 employees and manufactures 20 different products.
This is not the first time BD has significantly invested into research and development. In August 2016, after 60 years of running its facility in Utah, the company completed a $20 million facility upgrade. The upgrade allowed for more space and technology to produce IV catheters and valves, blood collection devices and surgical products.
The Utah facility was first purchased in 1956 and has since grown to 440,000 square feet in size and 1,200 employees. The research facility was the first to use renewable energy sources and later became landfill-free, where waste is reduced, recycled or converted into energy.
Companies like BD demonstrate the significant positive outcomes that result from investing in R&D. If you believe your company is incorporating research and innovation into its business activities, it may be eligible for an R&D tax credit. To find out more contact a Swanson Reed R&D Tax Advisor today for an assessment.