Niagara Falls R&D Tax Credit Explained for Businesses

R&D Tax Credits for Niagara Falls, New York Businesses

Niagara Falls, New York, is known for industries such as tourism, healthcare, education, manufacturing, and retail. Top companies in the city include Niagara Falls State Park, a leading tourism attraction; Niagara Falls Memorial Medical Center, a major healthcare provider; Niagara University, a significant educational institution; Occidental Chemical Corporation, a key player in the manufacturing sector; and the Fashion Outlets of Niagara Falls, a prominent retail complex. The 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 350 Northern Blvd, Albany, New York is less than 300 miles away from Niagara Falls and provides R&D tax credit consulting and advisory services to Niagara Falls and the surrounding areas such as: Buffalo, Rochester, North Tonawanda, Lockport and Amherst.

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.

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Niagara Falls, New York Patent of the Year – 2024/2025

Niacet Corporation has been awarded the 2024/2025 Patent of the Year for their innovative approach to chemical manufacturing. Their invention, detailed in U.S. Patent No. 12071401, titled ‘Direct conversion of esters to carboxylates’, introduces a streamlined process for producing high-purity calcium carboxylates from simple esters.

This novel method involves reacting water and calcium oxide to form a slurry, which is then combined with an ester such as methyl propionate. The reaction is heated to remove methanol, a byproduct, and the solution is neutralized to achieve a pH between 7.0 and 9.5. The resulting calcium carboxylate is then filtered and recovered in solid form, boasting a purity of 95% or higher.

Niacet’s process offers significant advantages over traditional methods, which often require multiple steps and complex catalysts. By simplifying the production of compounds like calcium propionate, commonly used as a preservative in baked goods, this innovation enhances efficiency and reduces costs in the food and feed industries.

With this patent, Niacet Corporation continues to demonstrate its commitment to advancing chemical manufacturing processes, providing the industry with more sustainable and cost-effective solutions.