The secret Snapchat R&D project is not so secret anymore..
Keeping a major project secretive in a globally successful company has always been a challenge in LA or SF and when that hugely successful company happens to be Snapchat, this mission proves to be all the more challenging. Now the secret is out; Snapchat R&D is building a new office in the remote location of Lehi, Utah, located 30 miles of Salt Lake City.
This remote location was selected as it is a respectable distance from other social media giants such as Facebook and will allow Snapchat to develop new app features and hardware devices beyond the prying eyes and ears of its competitors.
Snapchat has been able to tap a supply of engineering talent from Brigham Young University as the University is only a 25-minute drive away. Snapchat’s association with BYU has proven to be very significant in the past. They struck gold by acquiring the founders of Scan.me who were studying at the University at the time. The founders of Scan.me worked together with Snapchat to develop QR codes that evolved into Snapchat’s scannable Snapcodes.
Lehi is also home to the massive Intel and Micron-backed semiconductor fabricator plant, IM Flash Technologies. IM Flash Technologies led Lehi to produce one in 12 of the world’s flash memory chips as of 2013.
Snapchat’s new Lehi lab allows the company to recruit where other companies cannot, as talent from BYU and IM Flash might not be as eager to leave the quiet Utah life for the big cities, where other social media giants are based.
The whispers of Snapchats new R&D lab first began when a major Apple engineer from Utah announced he was leaving the company to start a new job at Snapchat. Snapchat have since confirmed the rumours and are excited about the opportunity to hire local Utah talent. Snapchat already have several offices across the U.S. and international cities, and this expansion is a product of the company’s growth.
Just like Snapchat, if your company is also engaging in research activities, it may be eligible for an R&D Tax Credit. An R&D Tax Credit reduces the cost and risk of undertaking R&D activities for your business. The benefit helps companies doing eligible work to create new or improved products, processes and services by reducing their tax. To find out if your company could be eligible, complete Swanson Reed’s quick and simple contact form.
Swanson Reed also regularly hosts free webinars and provides free IRS CE credits as well as CPE credits for CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.