College Park R&D Tax Credit Overview for Businesses

R&D Tax Credits for College Park, Maryland Businesses

College Park, Maryland, is known for its strong presence in healthcare, education, technology, and retail. Top companies in the city include the University of Maryland Medical Center, a major healthcare provider; the University of Maryland, a key educational institution; Lockheed Martin, a prominent technology 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 and competitiveness in College Park’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 145 West Ostend Street, Baltimore, Maryland is les than 35 miles away from College Park and provides R&D tax credit consulting and advisory services to College Park and the surrounding areas such as: Baltimore, Columbia, Germantown, Silver Spring and Waldorf.

If you have any questions or need further assistance, please call or email our local Maryland Partner on (443) 687-8701.
Feel free to book a quick teleconference with one of our Maryland 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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College Park, Maryland Patent of the Year – 2024/2025

InventWood Inc. has been awarded the 2024/2025 Patent of the Year for advancing wood material science. Their invention, detailed in U.S. Patent No. 12122065, titled ‘Truncating the distribution of modulus properties in natural populations of wood’, introduces a novel method to selectively improve the strength and consistency of wood products by managing the natural variation in wood stiffness.

The innovation tackles a longstanding challenge in the wood industry: natural wood varies widely in mechanical properties. This variability can reduce the reliability and performance of wood in construction and manufacturing. Inventwood’s method applies a precise approach to “truncate” or limit the range of stiffness values within batches of wood. This ensures the final product maintains uniform strength without costly or wasteful processing.

By focusing on the natural distribution of modulus of elasticity, the technology enhances wood’s predictability for builders and manufacturers. This means safer structures, fewer material failures, and less need for overengineering. The process also supports sustainable forestry practices by optimizing the use of harvested timber, reducing waste and environmental impact.

This patent signals a shift in how natural materials like wood are engineered for modern demands. By combining scientific insight with practical application, Inventwood offers a breakthrough that could influence construction standards worldwide. Their method promises stronger, more reliable wood products that meet the needs of a growing, eco-conscious market.