Kingsbury & Associates Still in R&D Phase for Massive Packing Plant Project
Kingsbury & Associates had recently set out to build a giant beef packing plant capable of processing up to 8,000 head of cattle a day. They anticipate this plant will take about three years to build and will eventually employ about 2,500 people. If successful, it would become the single-largest beef processing plant in the country.
The company has recently announced a new partner – Farmers Union Industries. The project will be linked to a facility that will be operated by Farmers Union. This facility will be set next to the packing plant and designed to handle byproducts out of the facility, using meat and bone meal and making tallow and grease products for the feed ingredients industry.
The project is still in its R&D phase, while the company works to tackle challenges in construction, efficiency, and optimization. For instance, the company is working with the South Dakota School of Mines and Technology, as well as others, to bring in technology that would manage odors from methane. This phase will require extensive research into the optimal design and layout, followed by additional R&D during construction. Currently, the company is working to get approval for the location and operation of the facility before moving into next steps.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.