Monday, October 10, 2022

AeroSpace & Defense News

 Today's Aerospace & Defense Headlines

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US, Japan, and the ROK Conduct a Trilateral Ballistic Missile Defense Exercise

Following the Democratic People’s Republic of Korea’s (DPRK) ballistic missile launch over Japan on Oct. 4 (local time), which was part of a larger series of launches over the past two weeks, Ticonderoga-class guided-missile cruiser USS Chancellorsville (CG 62) and Arleigh Burke-class guided-missile destroyer USS Benfold (DDG 65), part of the USS Ronald Reagan Carrier Strike Group, conducted a trilateral ballistic missile defense exercise in the waters between Korea and Japan, Oct. 6 (local time) alongside Japan Maritime Self-Defense Force destroyers JS Chokai (DDG 176) and JS Ashigara (DDG 178), and Republic of Korea Navy destroyer ROKS Sejong the Great (DDG 991).

This exercise enhances the interoperability of our collective forces and demonstrates the strength of the trilateral relationship with our Japan and Republic of Korea (ROK) allies, which is forward-leaning, reflective of our shared values, and resolute against those who challenge regional stability.

Also this week, the United States conducted air exercises with our ROK and Japanese Allies, as well as a joint tactical missile live-fire exercise with the ROK.

Missiles - Market and Technology Forecast to 2029

Missiles - Market and Technology Forecast to 2029

Market forecasts by Region, Technology, System, Platform, Component, Guidance System, and End-User. Market and Technology Overview, Opportunity and Scenario Analysis, and Leading Company Profiles

Published: August 2021 - Pages: 241 pages

Download free sample pages

The United States, Republic of Korea and Japan strongly condemns the DPRK’s launches, which violate numerous, unanimous mandates of the United Nations Security Council. We urge the DPRK to immediately cease actions that violate U.N. Security Council resolutions, escalate military tensions, destabilize the region, and endanger peace and security.

We remain committed to peace and prosperity through the region in order to secure a free and open Indo-Pacific.

 US Navy
View original News release 

Sigma Defense Awarded $950M ABMS IDIQ Contract for JADC2

Sigma Defense announced today that it has been awarded a $950 million ceiling indefinite-delivery/indefinite-quantity (IDIQ) contract for the maturation, demonstration and proliferation of capability across platforms and domains, leveraging open systems design, modern software and algorithm development in order to enable Joint All Domain Command and Control (JADC2).  This multiple award contract provides Sigma Defense the opportunity to compete for efforts within seven different competitive pools that support the development and operation of systems as a unified force across all domains (air, land, sea, space, cyber, and electromagnetic spectrum) in an open architecture family of systems that enables capabilities via multiple integrated platforms. Future work under this multiple-award Indefinite Delivery/Indefinite Quantity contract will be competed via the Fair Opportunity process.

Sigma Defense will support the Air Force’s Advanced Battle Management System for JADC2 by providing the critical surveillance, tactical edge communications, processing, networking, and battle management command and control capabilities to the joint warfighting force.

“We are excited and honored to be chosen to support the Air Force ABMS program, taking the next step in making JADC2 a reality,”  said Matt Jones, Chief Executive Officer at Sigma Defense.  “Our ability to transmit and analyze data from multiple disparate sources is a key enabler of the DoD’s sensor to shooter architecture and further delivers on the vision of sense, make sense and act.   Sigma Defense is uniquely positioned to deliver open architecture systems across multiple integrated platforms for greater visibility, enabling any shooter whether in space, on land, at sea, in the air, or in cyberspace.”

Global C4ISR - Market and Technology Forecast to 2027

Global C4ISR - Market and Technology Forecast to 2027

Market forecasts by Region, Technology, Systems Element and End-User. Current Market Overview, and Leading Company profiles

Published: November 2019 - Pages: 238 pages

Download free sample pages
 Sigma Defense
View original News release 

Friday's News Headlines

 
•GDEB Awarded $533M for Virginia–Class Submarine Support
•Australia's 1st Triton Touches Down
•Leonardo DRS Teams with SpearUAV Ltd for Nano–scale Aerial Munitions
•Protector Completes Acceptance Test Procedures
•Schiebel Awarded Prestigious SAR Contract by Sasemar in Spain
•NASA's Juno Gets Highest–Resolution Close–Up of Jupiter's Moon Europa
•ZeroAvia Acquires Leading Fuel Cell Stack Innovator HyPoint 

•Babcock Awarded Maritime Communications Electronic Support Measures Contract
•SalamAir, Oman's Low–Cost Carrier, Selects the E195–E2 for Next Stage of Growth
•Italy's 1st Vertiport Deployed at Fiumicino Airport
•Joby and Skyports Partner to Deliver Living Lab for Urban Air Mobility
•Sigma Defense Awarded $950M ABMS IDIQ Contract for JADC2
•Aerojet Rocketdyne Tests NextGen Large Solid Rocket 
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2022 MacArthur Fellows...At 11:00 a.m. CT on Wednesday, October 12 we will announce the 2022 MacArthur Fellows. We will feature 25 exceptionally creative people on our main MacArthur Fellows page. Watch videos, explore bios, and see what folks are saying about this year’s class on our social channels.

 

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2021 MacArthur Fellows

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Rose Law Group speaks at national Opportunity Zone Expo

TAKE-AWAY= Projects that reaped the tax benefits for their opportunity zone projects, but built businesses that cater to high-income customers instead of re-stimulating the economy for the intended communities, are proving to be disappointing examples



Here’s why we need more opportunity zone development

By Madelaine Braggs | Rose Law Group Reporter

"The nation’s largest convention for opportunity zone investors, developers and legal professionals featured insights from the industry’s brightest, including Rose Law Group attorney Dan Gauthier.

“Continued and increased opportunity zone investment and development, raises the tide for not only opportunity zone stakeholders and the success of the program, but also for the communities, businesses and people who reap the benefits of development projects that may, if not for the OZ program, pass on a particular project,” says Gauthier. 

Hundreds gathered at the Hyatt Regency Phoenix Monday for the 2022 Annual Opportunity Zone Expo to reflect on what they’ve learned since a revolutionary tax incentive program created in 2017 under the Tax Cuts and Jobs Act of 2017 (Public Law No. 115-97).  

For anyone unfamiliar with these types of projects, opportunity zones are an economic development tool that allows communities to redevelop neglected areas, while prioritizing the community’s human interests. Following state nomination, low-income communities and certain neighboring areas, defined by population census tracts, can qualify as Opportunity Zones. Opportunity Zones offer tax benefits to investors who elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Opportunity Fund (QOF). 

OZ Legislation Update 

Legislation introduced this year by New Jersey Senator Cory Booker (D) revises rules and reinstates reporting requirements relating to economically distressed communities where new investments, under specified conditions, may be eligible for preferential tax treatment. 

Opportunity Zone Expo 2022

✓ Specifically, S.4065 terminates the designation of zones that are disqualified due to median family income exceeding 130% of national median family income and permits states to identify and expand terminations of such zones. 

✓✓ The bill also reinstates reporting requirements for qualified opportunity zones and imposes penalties for noncompliance with such requirements, extends the opportunity zones temporary deferral period for qualifying capital gain through 2028, and establishes a State and Community Dynamism Fund to support public and private investment in qualified opportunity zones. 

As Plante Moran Partner Gordon Goldie explains it, there’s usually a very quick payback when doing a cost segregation study, particularly when bonus depreciation is up for grabs. However, that accelerated depreciation is subject to recapture. In an opportunity zone, cost segregation is even more significant because part of the benefit – the accelerated depreciation – becomes permanent as there’s no tax on the recapture. 

Although legal analysts doubt the bill with move anytime this legislative season, but the industry is widely supportive. Developers say we need more opportunity zones because they’re a transformative economic development tool for serving under-capitalized communities. The catch to these projects is not just saving on taxes, but proving its positive social impact on the community. Elizabeth Humphreys, founder of consulting firm Zephyr OZ and panelist speaker… says the best two metrics to measure that impact is jobs and housing. Criticism of opportunity zones mainly surround the concern of ‘gentrification,’ some worry that if shiny new developments come into town it will price out, and thus push out, current local residents.  

Whether the incentive is to provide quality rent-controlled housing, or reform homelessness encampments, opportunity zone policies or projects will have a higher chance of getting passed if it has support from both community advocates and builders. Humphreys says allowing room for customization per community could be a solution. “Local governments want to see positive projects for their community, but that will be different for each community. Over-regulating can do harm to local communities and hold up good projects.” 

Projects that reaped the tax benefits for their opportunity zone projects, but built businesses that cater to high-income customers instead of re-stimulating the economy for the intended communities, are proving to be disappointing examples. Many panelists at the expo made references to harmful narratives creating public mistrust for opportunity zones, urging investors and developers to instead share their success stories. 

(Best Practices Panel from left to right: Clint Edington, Gordon Goldie, Dan Gauthier, Ashley Tison)

Better Examples 

Rose Law Group OZ attorney Dan Gauthier (left) and OZPros founder Ashley Tison (right)

The number one thing to earn public trust is with compliance. Rose Law Group business and real estate transactions attorney Dan Gauthier says neglecting to have a compliance plan sets you up to fail down the line. During a best practices themed panel Gauthier and industry colleagues shared some tips on how they maintain full transparency throughout a project. 

“With my clients, I do a periodic compliance call in anticipation of any testing dates. We get everyone on the phone or in person and we check in to figure out what’s happened in the last six months. That’s worked out really well and uncovered issues that we wouldn’t have had time to fix if not for those early calls.” 

Gauthier says all developers, whether opportunity zone or not, should create an audit trail you can rely upon if you need to. “At the end of the day this is a business that you need to maintain good business practices for.” He also highly recommends getting an independent opinion value for the substantial improvement test and to not reply on the property tax assessment to base such a critical “golden number.” 

Some other best practices include updating your compliance plan as often as possible with the latest financial records related to the project, having that compliance plan completed and ready to be presented to investors on Day 1 and minding your disclosures. The higher the accredited investor, the less disclosures will be necessary. Where if the investor is barely accredited, you’ll want as many disclosures as possible. “Think of disclosures not only as a marketing piece but as a protection piece. It protects your house and it protects my house,” said Coni Rathbone, a real estate attorney and partner at Dunn Carney in Portland, Oregon. 

Clint Edington, Partner at Nest Opportunity Fund & Beacon Hill Investment Advisory, put it best when he said having an OZ lawyer take a look at your local regulations before submitting a plan is crucial, even admitting they’ve had to pull an offer for not realizing certain red tape had already doomed a project. Although, one perk to remember is that even if the project doesn’t work, you’re still entitled to certain tax benefits. 

On an inspiring final note… Founder of OZPros Ashley Tison reminded everyone at the conference that opportunity zone construction can transform lives by creating new jobs and affordable housing where people had few options. “Beat that drum, put your OZ cape on every day, we are making a difference. Doesn’t matter what you’re doing in this space, this was designed to move capital to public incentives.” 

When done correctly, in full compliance and with the community at heart, opportunity zone investment and construction can be the second chance for neighborhoods struggling to get out of poverty, while also creating high returns for investors. Revitalizing one neighborhood can be the beginning of economic development that empowers the city and state as a whole." 


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ALL ABOARD!

 2022 Mesa Tour - SE Mesa


Wednesday, October 12, 2022
7:30 am - 12:30 pm
Eastmark Community Center

Mesa is exploding with new development as world class brands join an already diverse array of businesses growing and expanding all over the city.

Learn about the vibrant new businesses and development calling Mesa home. This bus tour will start with a continental breakfast provided by Brookfield Residential and include a riding tour of economic development hot spots across the 35th largest city in the country. After lunch at the ASU Poly Campus, the bus will return to its starting location.

2022 Mesa Tour - SE Mesa

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Wednesday, October 12, 2022 (7:30 AM - 12:30 PM) (MST)

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Mesa is exploding with new development as world class brands join an already diverse array of businesses growing and expanding all over the city.

Learn about the vibrant new businesses and development calling Mesa home. This bus tour will start with a continental breakfast provided by Brookfield Residential and include a riding tour of economic development hot spots across the 35th largest city in the country. After lunch at the ASU Poly Campus, the bus will return to its starting location.

To be a sponsor of this tour, message Terrie Gardner at tgardner@mesachamber.org for details.

 

Sponsors

Sponsorship of Tour (Includes 2 seats)
CCS Presentation Systems 
Imagine Schools at East Mesa
Imagine Schools at East Mesa 
Lumen Technologies
Bus Tour Sponsor
DMB/Eastmark
Breakfast Sponsor
Brookfield Residential
Bus Tour - Lunch Sponsor
Arizona State University
Eastmark Community Center
10100 E. Ray Road
Mesa, AZ 85212 United States

Lunch at ASU Poly

Wednesday, October 12, 2022 (7:30 AM - 12:30 PM) (MST)


7:30am-8:00am Continental Breakfast 

8:00am- Bus Departs 

11:00am- Lunch 

12:30pm- Bus Returns 

Categories
Chamber- Mesa Chamber Event
Registered Guests
52
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