Automated Vehicles- The Next Big Thing for R&D in Fort-Worth Region
Self-driving cars are set to be the next big thing in Texas, specifically in the Forth Worth region as congestion is a major issue. The U.S. ranks 16th overall for congestion, making the market for self-driving cars needed. The development of this product is something that is completely new and innovative. It requires experimentation in regards to safety, maintenance, etc. Research and development (R&D) tax credits is something that will be very useful in this industry.
Thomas Bamonte, the automated vehicles program manager is a team of one in the Fort-Worth region and is looking into the legality of having more vehicles on roads but increasing traffic flow at the same time with self-driving cars. Bamonte believes that before self-driving cars hit the market, there has to be a few changes. The focus may change from cement and road structure to back-end computing systems, digital technology within signs, traffic lights etc. R&D tax credits will benefit this industry due to the highly technological changes that will need to happen.
The changes that will need to happen to make the autonomous vehicle industry flourish are ongoing and still in the design stages. If your company is experimenting with new products or technologies contact a Swanson Reed R&D Tax Advisor today.