Newport News R&D Tax Credit Explained for Businesses

R&D Tax Credits for Newport News, Virginia Businesses

Newport News, Virginia, is known for industries such as healthcare, education, military, manufacturing, and technology. Top companies in the city include Riverside Regional Medical Center, a leading healthcare provider; Christopher Newport University, a major educational institution; the U.S. Navy, a significant military employer; Huntington Ingalls Industries, a key player in the manufacturing sector; and Ferguson Enterprises, 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 919 East Main Street, Richmond, Virginia is less than 70 miles away from Newport News and provides R&D tax credit consulting and advisory services to Newport News and the surrounding areas such as: Chesapeake, Norfolk, Richmond, Hampton and Portsmouth.

If you have any questions or need further assistance, please call or email our local Virginia Partner on (804) 773-3219.
Feel free to book a quick teleconference with one of our Virginia 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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Newport News, Virginia Patent of the Year – 2024/2025

NanoSafe Inc. has been awarded the 2024/2025 Patent of the Year for its innovation in water safety technology. Their invention, detailed in U.S. Patent No. 11971398, titled ‘Methods for detection of lead in water’, introduces a user-friendly method for identifying lead contamination in water supplies.

This technology employs a water-soluble reagent that reacts with lead to form a colored complex. When a water sample is treated with the reagent, any lead present forms a precipitate that is captured on a filter or membrane. The resulting color change provides a visual indication of lead concentration, allowing for quick and accurate detection without the need for specialized equipment.

The method’s simplicity and effectiveness make it suitable for use in various settings, including homes, schools, and field operations. By enabling immediate identification of lead in water, this innovation empowers individuals and communities to take prompt action to address potential health risks associated with lead exposure.

NanoSafe Inc.’s development represents a significant advancement in public health tools, offering an accessible solution to monitor and manage water quality. This invention has the potential to play a crucial role in preventing lead-related health issues and ensuring safer drinking water for all.