R&D Tax Credits for Portsmouth, Virginia Businesses

Portsmouth, Virginia, is known for industries such as healthcare, education, military, manufacturing, and technology. Top companies in the city include Bon Secours Maryview Medical Center, a leading healthcare provider; Tidewater Community College, a major educational institution; the U.S. Navy, a significant military employer; Huntington Ingalls Industries, a key player in the manufacturing sector; and Amerigroup, a prominent technology company. The R&D Tax Credit can help these industries save on taxes by encouraging innovation and technological advancements.

Are you eligible?

R&D Tax Credit Eligibility AI Tool

Why choose us?

directive for LBI taxpayers

Pass an Audit?

directive for LBI taxpayers

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 100 miles away from Portsmouth and provides R&D tax credit consulting and advisory services to Portsmouth and the surrounding areas such as: Chesapeake, Norfolk, Newport News, Hampton and Suffolk.

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.



Portsmouth, Virginia Patent of the Year – 2024/2025

Portsmouth, Virginia reported no new patent filings with the USPTO in this period, but the state continues to serve as a quiet hub for defense-related innovation. Virginia’s longstanding ties to naval technology, cybersecurity, and aerospace engineering power much of its inventive output.

While larger firms often dominate patent filings, many critical breakthroughs in Virginia emerge through collaborative efforts with government agencies and military contractors. Portsmouth, located near key naval facilities, plays a supporting role in advancing maritime systems, logistics tech, and simulation software.

Across the state, innovators focus on making systems faster, safer, and more secure. Engineers often refine existing technologies—like sonar mapping or drone navigation—to meet the rigorous demands of defense and emergency response teams. Much of this work happens behind the scenes and may not result in public patents, but it fuels mission-critical improvements.

In addition to defense, Virginia contributes to medical diagnostics, smart manufacturing, and energy-efficient infrastructure. Many of these tools are developed for real-world application and rapid deployment, with innovation shaped by need rather than novelty.

Though Portsmouth didn’t add to the patent rolls this cycle, the city remains connected to Virginia’s broader innovation landscape. Its contributions—especially in support of national defense—highlight how progress often happens off the radar, without the need for headlines or filings.


R&D Tax Credit Training for VA CPAs

directive for LBI taxpayers

Upcoming Webinar

 

R&D Tax Credit Training for VA CFPs

bigstock Image of two young businessmen 521093561 300x200

Upcoming Webinar

 

R&D Tax Credit Training for VA SMBs

water tech

Upcoming Webinar

 


Choose your state

find-us-map

Never miss a deadline again

directive for LBI taxpayers

Stay up to date on IRS processes

Discover R&D in your industry

Contact Us


Virginia Office 

Swanson Reed | Specialist R&D Tax Advisors
919 East Main Street
Richmond, VA 23219

 

Phone: (804) 773-3219