Bloomington R&D Tax Credit Explained for Businesses

R&D Tax Credits for Bloomington, Illinois Businesses

Bloomington, Illinois, is known for its strong presence in healthcare, education, insurance, and retail. Top companies in the city include OSF HealthCare St. Joseph Medical Center, a major healthcare provider; Illinois State University, a key educational institution; State Farm, a prominent insurance company; Walmart, a global retail giant; and Amazon, a global logistics and e-commerce company. The R&D Tax Credit can help these industries reduce tax liabilities, promote innovation, and enhance business performance. By utilizing the R&D Tax Credit, companies can reinvest savings into advanced research driving growth to Bloomington’s economy.

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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 318 West Adams Street, Chicago, Illinois is less than 135 miles away from Bloomington and provides R&D tax credit consulting and advisory services to Bloomington and the surrounding areas such as: Normal, Peoria, Decatur, Champaign and Springfield.

If you have any questions or need further assistance, please call or email our local Illinois Partner on (312) 380-0467.
Feel free to book a quick teleconference with one of our Illinois R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.

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Bloomington, Illinois Patent of the Year – 2024/2025

Technocentra Group Inc. has been awarded the 2024/2025 Patent of the Year for its innovation in customer communication systems. Their invention, detailed in U.S. Patent Application No. 20240323280, titled ‘Interactive text response system with transfers between text message threads’, introduces a method for seamlessly transferring users between different text message threads based on their needs.

The system enables a user to initiate a conversation with a company’s support line and, through a selectable option, transfer the conversation to another department without starting a new thread. This approach maintains continuity and context, reducing the need for users to repeat information. The transferred thread can include previous conversation history, interactive links, or attached files to assist in the transition.

Administrators can assign bots for consent gathering, data collection, or provide self-service prompts during the transfer process. The system also allows setting permissions to control the visibility of certain information in the new thread, respecting user privacy and consent levels.

This innovation streamlines customer interactions by providing a more efficient and user-friendly experience. By facilitating smoother transitions between departments or services, companies can enhance customer satisfaction and operational efficiency.