Pawtucket R&D Tax Credit Benefits for Corporations

R&D Tax Credits for Pawtucket, Rhode Island Businesses

Pawtucket, Rhode Island, thrives in industries such as healthcare, education, manufacturing, retail, and technology. Top companies in the city include Memorial Hospital of Rhode Island, a leading healthcare provider; the Pawtucket School Department, a major educational institution; Hasbro, a significant manufacturing employer; the Pawtucket Armory Arts Center, a key player in the retail sector; and Amica Mutual Insurance, a prominent technology company. The R&D Tax Credit can provide tax savings for these industries by incentivizing 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 270 Bellevue Avenue, Newport, Rhode Island is less than 40 miles away from Pawtucket and provides R&D tax credit consulting and advisory services to Pawtucket and the surrounding areas such as: Worcester, Providence, Springfield, Bridgeport and Cambridge.

If you have any questions or need further assistance, please call or email our local Rhode Island Partner on (401) 406-8880.
Feel free to book a quick teleconference with one of our Rhode Island 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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Pawtucket, Rhode Island Patent of the Year – 2024/2025

Propel LLC has been awarded the 2024/2025 Patent of the Year for its innovation in smart textile technology. Their invention, detailed in U.S. Patent No. 11891729, titled ‘Machine-knittable conductive hybrid yarns’, introduces a novel yarn design that integrates conductive wires with non-conductive fibers, enabling the creation of flexible, durable, and machine-knittable fabrics suitable for advanced wearable electronics.

This hybrid yarn combines insulated conductive wires, such as copper-clad stainless steel, with strong, inelastic non-conductive fibers like meta-aramid or para-aramid. The conductive wires are coated with an insulating material and twisted together with the non-conductive yarn, forming a structure that maintains electrical conductivity while being compatible with standard knitting machines. This design allows for the production of textiles that can incorporate electronic functionalities without compromising comfort or flexibility.

Propel LLC’s development addresses the limitations of traditional conductive yarns, which often lack the necessary flexibility and durability for integration into garments. By enabling the knitting of conductive pathways directly into fabrics, this technology opens new possibilities for wearable devices that monitor health metrics, provide communication capabilities, or offer other electronic functions seamlessly integrated into clothing.

The innovation holds significant potential for applications in healthcare, military, and consumer electronics, where the demand for smart textiles is rapidly growing. Propel LLC’s conductive hybrid yarns represent a step forward in the evolution of wearable technology, combining functionality with the comfort and adaptability of traditional textiles.