Arcimoto Acquires TMW Tilting Technology

Arcimoto Acquires TMW Tilting Technology

Arcimoto has acquired Tilting Motor Works (TMW), bringing their 3-wheel conversion technology into their products aimed at the micro mobility industry. Arcimoto is most well known for their three-wheeled electric Fun Utility Vehicle (FUV). They want to catalyze the shift to a sustainable transportation system by moving away from oversized, overpriced, polluting vehicles. They developed the FUV as a right-sized, ultra-efficient electric vehicle as an alternative.

TMW developed their TRiO three-wheel conversion kits, which has specialized tilting technology. This tilting technology grabbed Arcimoto’s attention, by providing a unique riding experience. The tech allows a rider to lean naturally into turns, providing a two-wheel motorcycle riding experience on a three-wheeler. Additional stability also means riders won’t need to use their feet for balance at red lights. 

Arcimoto has expanded to delivery and emergency/first responder models of the FUV as well as an open-top version known as the FUV Roadster. While Arcimoto has been steadily expanding, they hope this additional technology will inspire their R&D and expand their micromobility product range.

Are you developing new products? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

The Best and Worst CyberStates for 2017

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The Computing Technology Industry Association (CompTIA) is a leading not-for-profit technology association. Their 18th edition of the Cyberstates report aims to provide a representation of the size and scope of the US tech sector. The report analyses the industry and workforce by state and uses metrics such as tech patents, venture capital funding, business establishments and job postings.

Here is a summary of the results by state:

Tech Industry Employment

There were around 6.9 million US tech workers in 2016, up from 6.7 million in 2015.

Top 5

  1. California
  2. Texas
  3. New York
  4. Florida
  5. Massachusetts

Bottom 5

  1. Wyoming
  2. South Dakota
  3. Alaska
  4. North Dakota
  5. Montana

Tech Patents Granted

Top 5

  1. California
  2. Texas
  3. Washington
  4. New York
  5. Massachusetts

Bottom 5

  1. Alaska
  2. South Dakota
  3. Mississippi
  4. Montana
  5. West Virginia

Innovation Score Per Capita

The number of tech startups and new tech establishments grew to 36,508 in 2015. Many were IT services covering data processing, hosting and web search portals.

Top 5

  1. California
  2. Massachusetts
  3. Washington
  4. Colorado
  5. New Jersey

Bottom 5

  1. West Virginia
  2. Mississippi
  3. Arkansas
  4. South Dakota
  5. Ohklahoma

Tech Gross State Produce (GSP) As A Percent of Total State Product (in billions)

Top 5

  1. Oregon
  2. Washington
  3. Massachusetts
  4. California
  5. Colorado

Bottom 5

  1. Wyoming
  2. Louisiana
  3. Oklahoma
  4. Mississippi
  5. West Virginia

Average Tech Industry Wages Rank

The average tech sector wage was 105 percent higher than the average national wage of $53,130 in 2016.

Top 5

  1. California
  2. Washington
  3. Massachusetts
  4. New Jersey
  5. New York

Bottom 5

  1. South Dakota
  2. Mississippi
  3. Wyoming
  4. West Virginia
  5. Montana

The full report is available at Cyberstates.

US tech companies undertaking qualified activities can apply for the state and/or federal R&D tax credit. To check whether your projects meet the necessary criteria, contact a Swanson Reed representative today.

New automotive R&D facility opens in Oregon

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The automotive commercial vehicle manufacturer, Daimler Trucks North America (DTNA) has officially opened its Oregon-based research and development facility.

The 87 acre, $18.7 million R&D facility consists of a state of the art test track, a brand new 32,000 square foot office that will be home to approximately 40 employees, a sizable workshop with 14 service bays for technicians to work and several driver lounges and conference rooms.

DTNA invested in the following R&D facility to solidify and validate itself as North America’s undisputed market leader and become a louder player in the realm of R&D. In addition, it is also hoped that the following facility will allow for DTNA to bring its innovative technology to the market faster than ever before.

DTNA’s president and CEO says he is excited for the future opportunities which lie ahead as a result of this significant R&D investment. The R&D projects to be carried out at the facility will allow for the company to become a more predominate player in the testing of product durability and reliability. In addition, the facility will also aid in the company’s future plans to test autonomous vehicles at the facility.

The location of Madras was specifically chosen because of its proximity to the company’s Portland headquarters. This allows the engineering team to travel by car to access the testing facility and will significantly save the company time and bring the engineers closer to the product.

The new test track at the facility is very similar to the one in Germany and Brazil and is specifically engineered to help DTNA determine a truck’s full service life in just six months.

While this R&D investment is an exciting opportunity for DTNA as a company, it is also an exciting time for Madras as a city. Having DTNA invest in Madras has shown to be a win-win for both parties and the city of Madras looks forward to supporting the undisputed market leader in the commercial vehicle industry.

If your company is currently or has recently invested in R&D, it may be eligible for an R&D tax credit. To receive an eligibility assessment and be guided through the R&D claim process, contact a Swanson Reed R&D Tax Adviser today. We look forward to speaking with you.

Top States for Doing Business 2016

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How does your state rank for doing business? CNBC ranked all 50 states for business using a range of publicly available data.  They used a points-based system for each of the 10 categories of competitiveness.

Here are the results:

Workforce

Rating based on education level of the workforce, the numbers of available employees, and the states’ demonstrated abilities to retain college-educated workers.

Top 5

  1. Colorado
  2. Massachusetts
  3. Virginia
  4. North Dakota
  5. Arizona

Bottom 5

  1. Maine
  2. Missouri
  3. Hawaii
  4. Vermont
  5. Kentucky

Cost of Doing Business

Rating based on the competitiveness of each state’s tax climate, as well as state-sponsored incentives that can lower the cost of doing business. Utility costs can add up to a huge expense for business, and they vary widely by state. Also considered was the cost of wages, as well as rental costs for office and industrial space.

Top 5

  1. Indiana
  2. Iowa
  3. Mississippi
  4. South Dakota
  5. Kentucky

Bottom 5

  1. Hawaii
  2. California
  3. Maryland
  4. Connecticut
  5. Massachusetts

Infrastructure

Rating based on the vitality of each state’s transportation system by the value of goods shipped by air, waterways, roads and rail. The availability of air travel in each state, the quality of the roads and bridges, and the time it takes to commute to work was taken into account, as was the condition of each state’s drinking water and wastewater systems.

Top 5

  1. Indiana
  2. Tennessee/Texas
  3. Tennessee/Texas
  4. Georgia
  5. Minnesota

Bottom 5

  1. Rhode Island
  2. New Hampshire
  3. Maine
  4. Connecticut
  5. Hawaii

Economy

Rating based on economic growth, job creation, consumer spending, and the health of the residential real estate market. Each state’s fiscal health was measured by looking at its credit ratings and outlook, as well as its overall budget picture. Also considered was the number of major corporations headquartered in each state.

Top 5

  1. Texas
  2. Colorado
  3. Utah
  4. Florida
  5. Oregon

Bottom 5

  1. Mississippi
  2. Maine
  3. Alabama
  4. West Virginia
  5. Louisiana

Quality of Life

Rating based on livability, including several factors, such as the crime rate; inclusiveness, such as antidiscrimination protections; the quality of health care; the level of health insurance coverage and the overall health of the population. Also evaluated were local attractions, parks and recreation, as well as environmental quality.

Top 5

  1. Hawaii
  2. Minnesota
  3. Vermont
  4. New Hampshire
  5. Maine

Bottom 5

  1. Arkansas
  2. Missouri
  3. Oklahoma
  4. Louisiana
  5. Tennessee

Technology and Innovation

Rating based on support for innovation, the number of patents issued to their residents and the record of high-tech business formation. Also considered were federal health, science and agricultural research grants to the states.

Top 5

  1. Washington
  2. California
  3. Massachusetts
  4. New York
  5. Maryland

Bottom 5

  1. Mississippi
  2. West Virginia
  3. Wyoming
  4. Arkansas
  5. Louisiana

Education

Rating based on the number of higher-education institutions in each state, as well as long-term funding trends for higher education. Also evaluated were several measures of K–12 education, including test scores, class size and spending, as well as digital and lifelong learning opportunities in each state.

Top 5

  1. Massachusetts
  2. Minnesota
  3. Wyoming
  4. Illinois
  5. Virginia

Bottom 5

  1. Nevada
  2. Idaho
  3. Mississippi
  4. Arizona
  5. Alabama

Business Friendliness

Rating based on the freedom each state’s legal and regulatory frameworks provide for business.

Top 5

  1. New Hampshire
  2. South Dakota
  3. Virginia
  4. North Dakota
  5. Idaho

Bottom 5

  1. California
  2. West Virginia
  3. Illinois
  4. Mississippi
  5. Hawaii

Cost of Living

Rating based on cost of housing, food and energy.

Top 5

  1. Mississippi
  2. Kentucky
  3. Arkansas
  4. Alabama
  5. Tennessee

Bottom 5

  1. Hawaii
  2. New York
  3. Delaware
  4. California
  5. Connecticut

Access to Capital

Rating based on venture capital investments by state, as well as small-business lending on a relative basis.

Top 5

  1. Illinois
  2. North Carolina
  3. California
  4. Michigan
  5. New Jersey

Bottom 5

  1. Wyoming
  2. Vermont
  3. West Virginia
  4. Delaware
  5. New Mexico

Many US businesses can take advantage of the state and/or federal R&D tax credit. Please contact a Swanson Reed representative to find out what is available in your state and whether your business qualifies.

Innovative Chocolate Shop Makes Zombie Bunnies

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Tired of traditional Easter bunnies? An innovative chocolate shop in Medford, Oregon, is selling Voodoo Bunnies – blood-splattered, zombie bunnies with exposed brains and eyeballs hanging out!

Voodoo Bunnies take up to five hours to make and are made only twice a year at Easter and Halloween. The idea originated from regular Easter bunny chocolates that ended up with defects. The chocolatier added marzipan and colored cocoa butter and the Voodoo Bunny was born.  They became so popular that they had to be removed from the website after going viral on Twitter.

Lillie Belle Farms Artisan Chocolates was started in 2002 by Jeff Shepherd, a chef who began selling truffles at a farmer’s market. Always experimenting, he has tried thousands of combinations, “from Thai chili and lemongrass to crystallised flower petals.”

Jeff’s R&D has certainly paid off. Now his shop is renowned across the country. Dessert Professional magazine named him as one of the 10 best chocolatiers in the US in 2009, and his salted lavender truffle won a silver medal at the International Chocolate Awards in 2013. One year, his chocolates ended up as Martha Stewart’s corporate gifts.

Other creative products from the shop include chocolate covered pears and the ‘Do Not Eat This Chocolate,’ made with a generous ratio of ghost chillies. They have even partnered with a local cheese shop, Rogue Creamery, to create an amazing cheese truffle. It took many failed attempts and they nearly gave up on the idea, but it was worth the perseverance in the end. As Jeff recalls, “One day we decided on using their Smokey Blue, organic milk chocolate and toasted almonds in an exact ratio and voila! The ultimate blue cheese truffle was born… We have been making them for 10 years now and while we are quite aware of how weird they sound, we also know just how incredibly good they are. We put about a year into the R&D. Now it’s perfect.”

As Lillie Belle has proven, investing in the creation of new product lines in order to differentiate a company can create a strong competitive advantage. Companies undertaking certain R&D activities can claim the state and federal R&D tax credit, which can then be reinvested into the business. To find out whether your business qualifies, contact Swanson Reed R&D Tax Advisors.