Joliet R&D Tax Credit Explained for Businesses

R&D Tax Credits for Joliet, Illinois Businesses

Joliet, Illinois, thrives in industries such as healthcare, education, manufacturing, and retail. Top companies in the city include AMITA Health Saint Joseph Medical Center, a major healthcare provider; the University of St. Francis, a key educational institution; Caterpillar, a prominent manufacturing company; Walmart, a global retail giant; and Amazon, a global logistics and e-commerce company. The R&D Tax Credit can benefit these industries by reducing tax liabilities, fostering innovation, and improving business performance. By leveraging the R&D Tax Credit, companies can reinvest savings into advanced research boosting Joliet’s economic growth.

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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 45 miles away from Joliet and provides R&D tax credit consulting and advisory services to Joliet and the surrounding areas such as: Chicago, Aurora, Naperville, Elgin and Waukegan.

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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Joliet, Illinois Patent of the Year – 2024/2025

Midwest Innovative Products LLC has been awarded the 2024/2025 Patent of the Year for its latest advancement in tool storage. Their invention, detailed in U.S. Patent No. 11904453, titled ‘Tool holder’, introduces an angled tool holder designed to improve safety and accessibility for professionals and DIYers alike.

The patented design features a body that securely holds a tool and a mount that attaches to various surfaces. Unlike traditional holders, this mount positions the tool at an oblique angle, allowing it to extend outward and away from the mounting surface. This orientation reduces the risk of accidental activation and enhances ease of access. The holder’s versatility is further demonstrated by its adjustable mounting options, which include clips and through-holes for fasteners, accommodating a range of work environments. Additionally, a trigger-prevention feature ensures that tools remain inactive while stored, adding an extra layer of safety.

Midwest Innovative Products, based in Joliet, Illinois, is renowned for developing practical solutions in the tools and hardware industry. Their portfolio includes award-winning products like Twist and Seal and Rhino Cart, reflecting a commitment to innovation and user-centric design. This latest patent underscores their ongoing dedication to enhancing tool safety and functionality.