Bloomington R&D Tax Credit and Its Benefits to Companies

R&D Tax Credits for Bloomington, Minnesota Businesses

Bloomington, Minnesota, is known for its strong presence in healthcare, education, technology, and retail. Top companies in the city include HealthPartners, a major healthcare provider; Normandale Community College, a key educational institution; Best Buy, a prominent technology company; Mall of America, a major retail and tourism destination; and Amazon, a global logistics and e-commerce company. The R&D Tax Credit can help these industries reduce tax liabilities, encourage innovation, and enhance 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 14870 Granada Avenue, Apple Valley, Minnesota is less than 15 miles away from Bloomington and provides R&D tax credit consulting and advisory services to Bloomington and the surrounding areas such as: Minneapolis, Saint Paul, Rochester, Brooklyn Park and Plymouth.

If you have any questions or need further assistance, please call or email our local Minnesota Partner on (952) 236-4344.
Feel free to book a quick teleconference with one of our Minnesota 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, Minnesota Patent of the Year – 2024/2025

Arc Suppression Technologies has been awarded the 2024/2025 Patent of the Year for innovation in electrical safety and reliability. Their invention, detailed in U.S. Patent No. 11862408, titled ‘Power contact fault clearing device’, introduces a new way to detect and suppress dangerous electrical arcs in power systems.

Electrical arcs can cause equipment failure, fires, and costly downtime. This new device actively monitors for contact faults and instantly responds to suppress arcs before damage occurs. It uses advanced sensing and control circuits to detect anomalies and correct them in real time, improving safety and extending equipment life.

Unlike traditional breakers that react after a fault, this invention works preemptively. It reduces wear on electrical contacts and minimizes the risk of catastrophic failure. The result is a safer, more resilient system for industrial, commercial, or residential power networks.

Arc Suppression Technologies has long focused on improving power control systems. With this invention, they deliver a smarter solution for managing power faults—one that aligns with growing demands for safety, efficiency, and sustainability. This patent signals a shift from reactive to proactive protection in the world of electricity.

By reducing arc damage and system downtime, this innovation helps industries operate more reliably while lowering maintenance and replacement costs.