Nicole Ballantyne of Jumpstart and Ryan Taylor of Oracle precision
The Hoyland-based manufacturer is enjoying a business boost thanks to winning a contract to produce specialist parts for jet fighters.
It is the latest contract for Oracle Precision, a company that was set up six years ago by two partners determined on manufacturing specialist parts for industry.
Ryan Taylor and Shaun Palmer had both worked in medical manufacturing and were victims of downturns in business due to the recession.
They set up Oracle Precision with a policy of manufacturing highly specialised unique parts across sectors as diverse as rail, medical and aerospace.
The company now employs 16 staff at its factory in Shortwood Business Park and is currently on the look-out for bigger premises.
Ryan said: “The latest contract runs for five years and will see the team manufacture components for missiles used by jet fighter planes around the world. It is a world away from more recent work that included medical drills and parts that improved rail safety.
“Customers ask us to make things and we will suggest they try doing things differently. It can be a leap of faith because you don’t know if it will work until you have invested time and money, but in recent years we have been able to reclaim that investment back through the R&D tax credit scheme.
“It enables us to invest the time, raw materials and energy in experimentation that might not work. If it does, both our customers and ourselves benefit, but significantly our risk is rewarded by the R&D tax credit scheme.”
Due to the he technical complexities and risks Oracle have been undertaking, they were eligible for R&D tax credits with support from Jumpstart R&D.
Nicole Ballantyne, Jumpstart Business Development Manager for Yorkshire added: “Oracle Precision is testament to the engineering and innovation skills we have in Yorkshire.
“Many pioneering companies like Oracle Precision believe their experimentation is run of the mill. It isn’t and it attracts valuable R&D tax credits they can plough back into their businesses.
“Jumpstart can unravel the minutiae so that they present a robust claim that truly reflects their client’s investment.”