Cornerstone Research Group (CRG) announced a proposal to expand its current operations to a new facility while expecting to create 250 new jobs in the Dayton region, contingent upon the projects state and local incentives. The TCA approved a 2.101 percent, nine-year Job Creation Tax Credit for this project.
The company’s expansion initiative would open new opportunities for a variety of high-skilled jobs in the Dayton region including software developers, aerospace engineers, electrical engineers, composite engineers, chemists, and manufacturing personnel.
“The rapidly evolving Department of Defense acquisition landscape is creating significant opportunity for Cornerstone Research Group and the Dayton region. With multiple technology products progressing towards procurement, we are excited to work with the Dayton Development Coalition, JobsOhio, and partners throughout the state to rapidly develop and deliver new capabilities to the warfighter and contribute to the success of the Dayton region,” said Chris Hemmelgarn, Vice President of Strategic Development at Cornerstone Research Group. “This new facility will allow us to expand our manufacturing footprint for advanced defense products and create more opportunity for the region.”
“The ground-breaking work Cornerstone Research Group supports and protects our nation’s military while attracting talented scientists and researchers who represent the innovative spirit of the Dayton Region,” said Dana A. Saucier, Jr., Vice President & Head of Economic Development for JobsOhio. “We look forward to working with Cornerstone as It brings 250 high-tech jobs to Dayton wile pioneering new technologies to support our armed forces.”
“Cornerstone Research Group represents a true Dayton Region success story. For over 20 years, their cutting-edge research has helped protect our military and defend American values across the globe,” said Amy Schrimpf, Project Manager and Government Relations Director for the Dayton Development Coalition. “Our region has had a critical role in our country’s defense for more than 100 years, and Cornerstone continues that strong tradition into the future. We’re thrilled they plan to continue to grow in the region and look forward to supporting them as their project moves forward.”
On November 10, 2017, CRG corporate offices and its labs and development areas moved to its new location at 510 Earl Blvd., Miamisburg, Ohio. The new facilities offer more production space and integrated lab space, as well as modern offices and conference rooms, with room to expand.
Corporate headquarters are now conveniently located on nearly five acres just southwest of the Dayton I-75/Rt 725 interchange. The new facility provides 56,500 square feet of space, expandable to 88,000 square feet, with a manufacturing area that totals 38,000 square feet and features two 20-ton cranes and one 5-ton crane.
CRG is currently the #1 SBIR awardee in the State of Ohio, based on receiving over $50 million in awards on the Small Business Innovation Research (SBIR) program since being founded in 1997. The company also ranks #1 in the same metric over the last year, the last 3 years and the last decade. These SBIR awards have allowed CRG to build a tremendous portfolio of intellectual property they can capitalize on through both subsidiaries and within the core business. The $50 million in SBIR awards has led to an additional $90 million in non-SBIR revenue during the history of the company.
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation’s R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.
In March, 2017 CRG celebrated 20 years of successful business. Over the years its business model has transformed from straightforward R&D to becoming a technology commercialization incubator, forming new start-up companies based on the advanced technologies and products it has come up with, much of the research funded through government SBIRs/STTRs.
So far, three new companies are experiencing success as subsidiary spin-offs of CRG: Spintech LLC, Advantic LLC, and NONA Composites LLC, now called Kineticure LLC. More spin-offs are on the drawing board, taking advantage of technologies ranging from structural power supply to specially designed patient litters that stabilize patients with head and spine injuries.
In an economic climate that has been marked with one of the longest recessions since the Great Depression, CEO Patrick Hood is grateful that CRG and its employees have persevered and continue to develop great ideas that change how people do things.
On May 8th, 2015, the Dayton Business Journal published a cover story about CRG titled “Innovation Machine.” The article highlighted CRG’s spin-off businesses Advantic, Spintech and NONA Composites and the industries they target.
“Patrick Hood spent years trying to perfect a model to commercialize products from his research and development firm. Seems he found the right formula and now the Dayton region stands to benefit.” If you’re a DBJ subscriber, read the full article here.