OWC adds two healthcare leaders to client portfolio

OWC has been retained by two healthcare clients to its growing roster. CURE Pharmaceutical (OTC: CURR) is an innovative drug delivery company, and Saban Community Clinic is a federally-qualified health center providing low-cost, integrated health care to the Los Angeles community.

“Healthcare is one of the fastest growing markets in the country, and we are fortunate to work with two innovators,” said Tracy Williams, OWC founder and CEO. “CURE Pharmaceutical and Saban Community Clinic are two organizations that are changing patient’s lives and improving the delivery healthcare to those in need.”

Read the full announcement: Olmstead Williams Communications Adds Two Healthcare Leaders to Client Portfolio (iReach)

Two global tech leaders expand OWC’s client portfolio

OWC has added two technology clients to its growing roster. Cubic Motion is the global leader in real-time computer vision and facial animation technology, and Linius Technologies Limited (ASX: LNU) provides content intelligence and the next evolution of video streaming technology.

“Innovation means different things to different industries. To us, it means that a business is doing things smarter and differentiating itself in the market,” said Tracy Williams, OWC founder and CEO. “Cubic Motion and Linius are two organizations that are disrupting industries with breakthrough technology that is ahead of its time.”

Read the full announcement: Two Global Technology Leaders Expand Olmstead Williams Communications Client Portfolio (iReach)

 

Creative Financing

By Eric Hintz
The Wall Street Journal
Click here to read the full article

To understand the history of innovation over the past several centuries, it helps to remember a familiar refrain: Follow the money.

Earlier this month, for instance, three teams shared the Progressive Insurance Automotive X Prize—a $10 million bounty awarded for the first production-ready car that can achieve a fuel efficiency of 100 miles per gallon or its energy equivalent.

The contest was one of a growing portfolio of competitions managed by the X Prize Foundation, a 15-year-old nonprofit organization that partners with philanthropists and corporations to stimulate technological breakthroughs by sponsoring high-stakes challenges. The foundation is also co-sponsoring the Archon Genomics X Prize—which will pay $10 million for reaching certain targets in high-speed, low-cost gene sequencing—and the Google Lunar X prize, which will pay $30 million to the first privately funded team to land a rover on the moon.

These contests may seem like a recent fad, but in fact, they have a long history. In 1714, the British Parliament passed the Longitude Act, offering awards to inventors who could solve the problem of measuring longitude at sea; from 1737 to 1765, clockmaker John Harrison earned a series of awards totaling £14,315 for improvements to his marine chronometer. In 1800, the French government established the Food Preservation Prize to help supply Napoleon’s army, and 10 years later, Nicolas Appert claimed 12,000 francs for demonstrating his vacuum-packing method, which is still used in today’s canned foods.

After disappearing for much of the 20th century, such prizes have recently re-emerged as a strategy for stimulating innovation. And that resurgence says much about the nature of innovation today, as well as the economic times we live in.

September 28th, 2010|Categories: Client News|Tags: , , , |

It's Time to Make R&D Tax Credit Permanent, Assure U.S. Remains World's Top Innovator

By Brandon Edwards
The Tax Credit Company
As posted on The Huffington Post

This year China became the world’s second-largest economy. Experts are currently arguing over when China will overtake the United States as the world’s largest. Most predictions place that event between 2020 and 2027. The good news has been that the manufacturing juggernaut our own consumer markets largely created still depends on us for the development of new products, processes and technology. According to recent studies, however, this should not be taken for granted.

We now live in a truly global economy where it is not unusual to work alongside people in other countries. Labor off-shoring has moved beyond manufacturing and customer service support, extending to value-added research and development activities. This means we are not losing jobs just for our unskilled labor force, but for our higher-paid, more-educated workforce as well.

The R&D tax credit is a highly effective targeted tax incentive that helps drive the global competitive edge that we need. President Obama is set today in Cleveland to again propose making the research credit permanent along with increasing its value, costing approximately $100 billion over the next 10 years (see fact sheet provided on the White House Web site).

Although the program has been around for 30 years and enjoys bi-partisan legislative support, it has yet to be made permanent. The R&D credit has expired numerous times before being retroactively renewed. It has even lapsed for one year. The 2010 tax credit, widely expected to be renewed, has yet to be passed by Congress. The uncertainty of the credit restricts new projects, limits opportunities and curtails high-value job growth.

The other problem is that our R&D tax incentive lags behind other countries. According to a report by the Information Technology and Innovation Foundation, a non-partisan think tank, we are now ranked number 17 out of the top 30 OECD countries. That’s right. You will find us below China, India, Canada, Mexico, Japan, Korea, Spain, France and others. (We were No. 1 as recently as the 1990s.)

Besides contributing to global competitiveness, the return on investment is substantial. The R&D credit currently costs an estimated $7 billion a year, which is very little given its impact on the economy. A permanent credit coupled with just a 25 percent increase could boost real GDP by $206.3 billion, generate 270,000 manufacturing jobs and raise total employment by 510,000 within a decade, according to a 2010 report by the Milken Institute.

One of the great things about the R&D credit is that it does not discriminate. Companies of all sizes, from small businesses to Fortune 500, qualify. A research study performed by The Tax Credit Company of IRS data shows that although large corporations claim the majority of credits, the relative impact on small to mid-size businesses as a share of their total assets is significantly greater.

Bottom line: Strengthening the R&D credit is something all sides agree on. It is a priority for our economic future at one of the most uncertain times in our history. It’s time to put questions about the future availability of the credit to rest so that companies will stop discounting its value, take full advantage of it as a key driver of innovation and assure that the U.S. remains the world’s leader in research and development.

September 13th, 2010|Categories: Client News|Tags: , , , , |