Duluth R&D Tax Credit and Its Benefits to Companies

R&D Tax Credits for Duluth, Minnesota Businesses

Duluth, Minnesota, thrives in industries such as healthcare, education, manufacturing, and retail. Top companies in the city include Essentia Health, a major healthcare provider; the University of Minnesota Duluth, a key educational institution; Cirrus Aircraft, 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 Duluth’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 14870 Granada Avenue, Apple Valley, Minnesota is less than 170 miles away from Duluth and provides R&D tax credit consulting and advisory services to Duluth and the surrounding areas such as: Superior, Hibbing, Cloquet, Grand Rapids and Hermantown.

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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Duluth, Minnesota Patent of the Year – 2024/2025

GPM Inc. has been awarded the 2024/2025 Patent of the Year for innovation in industrial equipment intelligence. Their invention, detailed in U.S. Patent Application No. 20240068482, titled ‘Real-time pump monitoring with prescriptive analytics’, introduces a breakthrough system that uses live data and AI-powered analysis to keep critical pump systems running efficiently.

This new technology provides real-time monitoring of pumps with built-in analytics that not only detect problems but also recommend solutions. The system collects data from sensors, evaluates the performance against known standards, and alerts operators when issues arise. More than just a warning system, it offers prescriptive actions to prevent failures before they happen.

Industrial facilities rely on pumps to move fluids, often under extreme conditions. Downtime can be costly and dangerous. GPM’s system reduces the risk of unexpected failures, helps extend equipment life, and lowers maintenance costs. It turns data into actionable insights, giving maintenance teams a smarter way to respond.

This invention reflects a growing shift toward predictive and prescriptive maintenance in the industrial sector. By combining hardware, software, and AI, GPM delivers a practical tool that enhances safety, productivity, and efficiency in operations ranging from mining to manufacturing.

With this award-winning innovation, GPM Inc. continues to lead the charge in transforming traditional equipment into smart, responsive systems for the future of industry.