Karen Mills, head of the U.S. Small Business Administration, today honored eighteen nationwide high-tech small businesses and three individuals in Washington D.C. They were honored for their critical role they play in research and development for the government, for their success in driving innovation, and for creating new jobs. GS Engineering was one of only 18 companies recognized this year, and the only company in the Midwest to receive such recognition. The Tibbett Award, given by SBA, honor outstanding small businesses and individuals who participate in the SBA's Small Business Innovation Research (SBIR) program.
GS Engineering received the Tibbett Award for its work on the Advanced Lightweight Vehicle Components and Materials SBIR which has led to numerous Phase III production awards. These production awards have allowed for job creation in the local and regional area, in support of manufacturing components designed under the SBIR effort. Since 2001, GS Engineering has been awarded 13 Phase I SBIR contracts by USSOCOM, US Air Force, US Navy, and the US Army. These 13 Phase I awards have been successfully transitioned to 11 Phase II contracts and 37 Phase III contracts resulting in an unprecedented successful transition rate.
Leveraging technology developed under the SBIR effort along with other lightweight technologies, GS Engineering is supporting Aerospace and Wheeled and Track Vehicle development programs. These advanced engineering programs allow GS Engineering to provide advanced lightweight structures to its clients. Additional value is achieved by the modularity of the particular target structure and the reduced production costs to the end client through value engineering.
During the formal announcement at the White House, Glen Simula, President of GS Engineering, was quoted as saying," I am very excited to have the work of GS Engineering recognized by the SBA as the strength of our organization is our employees." Mr. Simula went on to discuss how the strength of small business can lead innovation and advanced product development through partnering with other successful companies.
This award continues the recent corporate success of GS Engineering with both the US Government and Commercial companies. Chris Coxon, Vice President of GS Engineering, was quoted as saying, "Leveraging our ability to engineering and analyze lightweight structures allows for our growth in the Aerospace market along with continuing to provide value to our current clients." Mr. Coxon highlighted that the recognition of the Tibbett Award for GS Engineering's past successful performance to provide lighweight engineered structural solutions would allow for future success in the Aerospace and Vehicle Markets.