Newark R&D Tax Credit Benefits for Businesses

R&D Tax Credits for Newark, New Jersey Businesses

Newark, New Jersey, is a major hub for industries such as finance, healthcare, education, transportation, and technology. Top companies in the city include Prudential Financial, a leading financial services company; University Hospital, a major healthcare provider; Rutgers University-Newark, a significant educational institution; Newark Liberty International Airport, a key player in the transportation sector; and Audible, a prominent technology company. The Research and Development (R&D) Tax Credit can help these industries save on taxes by encouraging innovation and technological advancements.

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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 100 Horizon Center Boulevard, Hamilton, New Jersey is less than 55 miles away from Newark and provides R&D tax credit consulting and advisory services to Newark and the surrounding areas such as: Jersey City, Paterson, Elizabeth, Lakewood Township and Edison.

If you have any questions or need further assistance, please call or email our local New Jersey Partner on (609) 900-2488.
Feel free to book a quick teleconference with one of our New Jersey 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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Newark, New Jersey Patent of the Year – 2024/2025

AeroFarms Inc. has been awarded the 2024/2025 Patent of the Year for innovation in sustainable agriculture lighting. Their invention, detailed in U.S. Patent No. 11944050, titled ‘Fixtureless lamp’, introduces a lightweight, efficient lighting solution that eliminates the need for bulky traditional fixtures.

This novel lamp design supports scalable vertical farming by using flexible materials and integrated mounts to position lights directly over plant beds. The fixtureless approach reduces material waste, simplifies installation, and allows better control over light positioning for optimal crop growth.

By embedding the lighting components into a flat, low-profile panel, AeroFarms makes it easier to fit lighting into tight vertical spaces. The system offers improved energy efficiency, even light distribution, and easier maintenance compared to standard grow light setups.

The innovation also opens new possibilities for modular farming systems. Operators can reconfigure lighting layouts with minimal disruption, supporting rapid scaling or rotation of crops. This flexibility benefits urban farms and high-tech greenhouses where space and efficiency are critical.

AeroFarms Inc. continues to pioneer cutting-edge indoor farming technology. With the fixtureless lamp, they are lighting the way toward more sustainable, adaptive, and resource-efficient agriculture for the future.