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Article: BANK OF FAYETTEVILLE PURCHASES R&D CREDIT FROM SPACE PHOTONICS
- Article from:
- US Fed News Service, Including US State News
- Article date:
- January 17, 2006
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The Arkansas Department of Economic Development ssued the following news release:
The Bank of Fayetteville has purchased a research-and-development tax credit given to Space Photonics Inc. through the Arkansas Department of Economic Development. The sale will provide cash for Space Photonics to continue its research and product development efforts in laser and fiber optic communications technologies for space and aircraft applications.
In 2004, Space Photonics Inc. became the first company to take advantage of a new tax incentive passed by the Arkansas Legislature in 2003 to encourage research and development by a targeted group of companies.
"It's clear that knowledge-based companies hold ...