Utica R&D Tax Credit Explained for Businesses

R&D Tax Credits for Utica, New York Businesses

Utica, New York, thrives in industries such as healthcare, education, manufacturing, technology, and retail. Top companies in the city include Mohawk Valley Health System, a leading healthcare provider; Utica College, a major educational institution; ConMed, a significant manufacturing employer; Indium Corporation, a key player in the technology sector; and Sangertown Square, a prominent retail complex. This allows businesses to reinvest in R&D, improve operations, and develop new products, boosting their competitiveness and contributing to Utica’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 350 Northern Blvd, Albany, New York is less than 95 miles away from Utica and provides R&D tax credit consulting and advisory services to Utica and the surrounding areas such as: Syracuse, Albany, Schenectady, Rome 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.

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

Remet Corporation has been awarded the 2024/2025 Patent of the Year for their innovative investment casting shell binder technology. Their invention, detailed in U.S. Patent No. 12097553, titled ‘Investment casting shell binders and compositions’, introduces a novel binder comprising microfibrillated cellulose (MFC) to enhance the strength and build thickness of investment casting shells.

Investment casting, commonly known as lost-wax casting, is a precision manufacturing process used to create complex metal parts. The process involves coating a disposable preform with a ceramic shell, which is then heated to remove the preform and harden the shell before pouring in molten metal. The quality of the shell is crucial for the final product’s integrity.

Remet’s patented binder utilizes MFC, hydrophilic fibrils with diameters between 1 nm and 1 μm, to improve the shell’s structural properties. When combined with a wide distribution of fused silica particles, this binder composition results in shells with enhanced thickness and strength. This advancement allows for the production of more robust and precise metal components, particularly beneficial in industries requiring high-performance parts, such as aerospace and medical devices.

By incorporating MFC into the binder system, Remet Corporation has significantly improved the investment casting process, offering manufacturers a more reliable and efficient method for producing complex metal parts.