Albany R&D Tax Credit Explained for Businesses

R&D Tax Credits for Albany, New York Businesses

Albany, New York, thrives in industries such as government, healthcare, education, technology, and manufacturing. Top companies in the city include the State of New York, a major government employer; Albany Medical Center, a leading healthcare provider; the University at Albany, a significant educational institution; GlobalFoundries, a key player in the technology sector; and General Electric, a prominent manufacturing company. This allows businesses to reinvest in R&D, improve operations, and develop new products, boosting their competitiveness and contributing to Albany’s economic growth.

find out more

Are you eligible?

Why choose us?

Pass an Audit?

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 350 Northern Blvd, Albany, New York provides R&D tax credit consulting and advisory services to Albany and the surrounding areas such as: Schenectady, Troy, Saratoga Springs, Kingston and Amsterdam.

If you have any questions or need further assistance, please call or email our local New York Partner on (518) 801-0616.
Feel free to book a quick teleconference with one of our New York 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.

Schedule a Teleconference

Albany, New York Patent of the Year – 2024/2025

Soluna Computing Inc. has been awarded the 2024/2025 Patent of the Year for its pioneering work in clean computing infrastructure. Their invention, detailed in U.S. Patent No. 11974415, titled ‘Modular data center’, introduces a scalable, portable data center system optimized for renewable energy integration.

The patented design features pre-fabricated, containerized modules that can be rapidly deployed near renewable energy sources like wind or solar farms. This flexibility allows computing power to be located where energy is cheapest and greenest, reducing both costs and carbon footprint.

Each modular unit houses servers, power systems, and cooling, with built-in adaptability to local grid and climate conditions. The design simplifies maintenance and makes it easier to move or expand the infrastructure as needed. This opens the door for off-grid or remote computing applications, turning stranded or excess energy into productive digital output.

Soluna’s system also supports demand response, dynamically adjusting power consumption to match renewable energy availability. This aligns with global efforts to make data-intensive operations like AI and blockchain more sustainable.

With this invention, Soluna Computing Inc. is redefining the future of data centers—making them cleaner, more efficient, and far more adaptable to the energy realities of a changing world.