Government must increase tax incentives for innovative development: Robert Atkinson of the Information Technology and Innovation Foundation

Robert Atkinson spoke about “Innovation Economics” at the University City Science Center last week. Photo courtesy of Kristen Fitch.

By Kristen Fitch

Sorry, sandwich lovers. Robert Atkinson believes that the government needs to stop thinking that “investing in computer chips is the same as investing in potato chips.”

“No one in Philly would think the life sciences industry has equal value to the hoagie industry,” said Atkinson, founder and president of the Washington, D.C.-based Information Technology and Innovation Foundation. He spoke about what he calls “Innovation Economics” at the University City Science Center last week.

Here are four takeaways from the event, as told to us by Science Center spokeswoman Kristen Fitch:

• The government needs to increase tax incentives for innovative development.
• R&D tax credits should be expanded to include machinery and equipment and the training of workers.
• Manufacturing is part of innovation and therefore must be supported by the government.
• The U.S. has a budget deficit in part because it has a competitiveness deficit.