New Castle R&D Tax Credit Explained for Businesses

R&D Tax Credits for New Castle, Pennsylvania Businesses

New Castle, Pennsylvania, is known for industries such as healthcare, education, manufacturing, retail, and technology. Top companies in the city include UPMC Jameson, a leading healthcare provider; Westminster College, a major educational institution; Ellwood Group, a significant manufacturing employer; the Cascade Galleria, a key player in the retail sector; and Ellwood National Forge, a prominent technology company. 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 2001 Market Street, Philadelphia, Pennsylvania is less than 360 miles away from New Castle and provides R&D tax credit consulting and advisory services to New Castle and the surrounding areas such as: Pittsburgh, Monroeville, Murrysville, Baldwin and Johnstown.

If you have any questions or need further assistance, please call or email our local Pennsylvania Partner on (267) 899-0130.
Feel free to book a quick teleconference with one of our Pennsylvania 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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New Castle, Pennsylvania Patent of the Year – 2024/2025

Velocity Magnetics Inc. has been awarded the 2024/2025 Patent of the Year for its advancement in energy storage technology. Their invention, detailed in U.S. Patent No. 12132347, titled ‘Method, system, and computer program product for uninterrupted power using an array of ultra-capacitors’, introduces a solid-state solution for seamless power delivery during outages.

The system employs a network of ultra-capacitors connected to a direct current (DC) bus, which interfaces with both power inputs and outputs. A controller manages the charging and discharging cycles, ensuring a continuous supply of alternating current (AC) power to facilities, even when the primary source fails. This design offers rapid response times and reduces reliance on traditional battery backups.

By integrating this technology, industries can maintain operations without interruption, safeguarding critical processes and data. The compact and efficient nature of ultra-capacitors also means reduced maintenance and longer service life compared to conventional systems.

Velocity Magnetics Inc.’s innovation reflects its commitment to developing reliable energy solutions. This patent underscores the company’s role in enhancing power stability across various sectors.