Cedar Rapids R&D Tax Credit Explained for Businesses

R&D Tax Credits for Cedar Rapids, Iowa Businesses

Cedar Rapids, Iowa, thrives in industries such as manufacturing, healthcare, education, and technology. Top companies in the city include Rockwell Collins, a leading aerospace and defense manufacturer; Mercy Medical Center, a major healthcare provider; Kirkwood Community College, a key educational institution; Transamerica, a prominent financial services provider; and Quaker Oats, a major food production company. The R&D Tax Credit can benefit these industries by lowering tax burdens, encouraging innovation, and improving business performance.

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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 699 Walnut Street, Des Moines, Iowa is less than 130 miles away from Cedar Rapids and provides R&D tax credit consulting and advisory services to Cedar Rapids and the surrounding areas such as: Iowa City, Waterloo, Marion, Cedar Falls and North Liberty.

If you have any questions or need further assistance, please call or email our local Iowa Partner on (203) 680-9655.
Feel free to book a quick teleconference with one of our Iowa R&D tax credit specialists at a time that is convenient for you.

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Cedar Rapids, Iowa Patent of the Year – 2024/2025

Master Packing and Rubber Company has been awarded the 2024/2025 Patent of the Year for its innovation in locomotive diesel engine sealing technology. Their invention, detailed in U.S. Patent No. 11988284, titled ‘Locomotive diesel engine power assembly cylinder head-to-cylinder liner gasket grommet’, introduces a specialized gasket system that enhances the sealing of cooling fluid passages between the cylinder head and liner.

This advancement features a single metal gasket integrated with multiple elastomeric grommets, each designed to withstand the high pressures and temperatures typical in diesel engines. The grommets possess a unique hexagonal cross-section with a radiused cavity and an outer diameter flange, ensuring a secure fit and preventing material intrusion into fluid passages. Constructed from a fluoroelastomer material infused with 10% carbon black, these grommets offer increased energy retention and compression resistance, eliminating the need for traditional coloration additives.

The real-world impact is significant. By improving the durability and reliability of engine seals, this technology reduces maintenance needs and enhances engine performance. Industries relying on heavy-duty locomotives can expect longer service intervals and decreased operational costs.

Founded in 1982 and based in Cedar Rapids, Iowa, Master Packing & Rubber Company specializes in high-quality sealing solutions for various industries, including marine, railroad, and biofuel sectors. This patent underscores their commitment to innovation and excellence in addressing complex sealing challenges.