Texas Delivers Innovative Water Technology Hubs
Texas, whilst renowned for oil, football and barbecues, actually has a lucrative, untapped water market. To be precise, the State of Texas’ economy has an undiscovered $9 billion water and water technology cluster of jobs, businesses, and assets – and it’s mounting. In fact, Texas observed a 19-percent job increase from 2005 to 2015 in water-related jobs. By 2025, the total amount of forecasted jobs in water-related professions is 1,168,320, which constitutes a 35-percent job availability jump from the years 2015 to 2025.
In light of this, AccelerateH20 is a Texas-based entity created to identify, promote and invest in new and existing technologies with potential to fill demands in Texas’ $9-billion water technology market. The non-for-profit company aims to promote effective future water strategies for the state’s residential, industrial, agricultural and utility end users. Most recently, AccelerateH2O launched the first of seven proposed regional innovative demonstration hubs to test, evaluate, and streamline next generation water technologies. Essentially, these demo hubs will host another company on their site to trial new innovative water technologies. Hence, smaller companies or start-ups will have access to professional services to conduct testing and evaluation under health and safety compliances. Moreover, the hubs will allow companies to access large-scale facilities and millions of gallons of water to enhance engineering review.
Ultimately, the demo hubs aim to connect the market to resources, assets and ideas by tackling barriers and limitations to innovating water in Texas. The demo hubs are predicted to act as a showcase for knowledge sharing among end-users, technology firms, academic researchers and the general Texas marketplace.
In order to further boost innovation, Swanson Reed has partnered with AccelerateH20. Swanson Reed is a global R&D (research & development) tax credit consulting firm, who can help you achieve tax benefits for innovative activities. The Federal and Texas State R&D Tax Credit laws apply to businesses in the water industry that are performing eligible R&D activities, including participation in AccelerateH2O organized pilots and demonstration.
Swanson Reed provides AccelerateH2O partners, technology firms, investors and underwriters with;
- No-Cost feasibility assessment to determine the financial benefit of claiming earned tax credits for qualifying research, development and demonstration activities.
- Sourced grants, incentives, and funding opportunities for water technology innovation.
- Calculated R&D tax credits, technical briefs to substantiate claims, and a finalization pack for your tax accountant to file with the IRS tax returns at a discounted Network rate.
- Advice on the structure of projects and programs to achieve maximum benefit of all federal and state tax credits and incentives.
If you would like to learn more about water technology R&D tax credits, check out our AccerlateH20 page or get in touch with us today by contacting one of our offices.
