Tax Credits Helping to Make U.S. Manufacturers More Competitive

During these difficult economic times, manufacturers are looking for new ways to grow their business and increase productivity without adding additional costs to their operations. In particular, R&D costs can add significantly to a firm's operating expenses in the hope of bearing fruit at some point down the road. To spur new growth here, Congress has passed new laws that provide tax incentives to shops looking to increase their R&D activities.

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