By John Kartch
Below is a list of examples of good news -- pay raises,
bonuses, expansions, 401(k) increases -- arising from tax reform.
[EDITOR'S NOTE: The list of 217 companies goes from A to Z and takes up 71 pages! We've posted only the first few. Click here to see the entire list.]
AAON
“We are very appreciative of all AAON
employees and want to commemorate the passing of this historic,
economy-stimulating tax reform law. While most
employees are shareholders of the company and benefit as a result of the new
tax law, we felt it appropriate to provide a more direct recognition of their
importance to AAON’s future success.” -- CEO Norman H. Asbjornson in a
Jan. 2, 2018 AAON press release
AccuWeather (State
College, Pennsylvania) – year-end bonuses to all employees. (Approx. 450 – 500
employees)
“The bonuses are possible due to the
company's robust financial performance in 2017 and strong confidence in
the growing U.S. and global economy now that the Tax Bill has passed.” – Dec. 26, 2017
AccuWeather press release
Advance
Financial (Tennessee) – increase in 401(k) match;
increase in profit sharing; increase in charitable donations:
“Because we believed the new administration
was committed to doing what it takes to get America’s economy back on track, we
are already ahead of the curve this year in terms of capital investments. We
dramatically sped up our plans to open new locations – we’re opening the 85th
one this morning in Jackson – and hire more employees – we are bringing on 100
new people in January. We have also exponentially expanded our reach outside of
Tennessee. In 2017, for the first time, we began offering our services outside
the state via the Internet and today we are in 10 states other than Tennessee.“
– Tina Hodges, CEO and chief experience officer for Advance Financial, in
a Jan.
5, 2018 Advance Financial press release
Advanced
Sciences and Technologies, LLC (Berlin, New Jersey) –
increased 401(k) match for employees.
Aflac –
increase 401(k) match from 50% to 100% on the first 4% of compensation plus
one-time $500 contribution to every employee’s 401(k); $250 million increase in
overall U.S. investment.
"We are pleased that these tax
reforms provide Aflac with an opportunity to increase
our investments in initiatives that reflect our company
values; providing for our employees in the long and short term,
ensuring future growth for our company and giving back to the
community." -- Aflac Chairman and CEO Dan Amos
Alaska
Airlines -- $1,000 bonuses for 22,000 employees
Christmas came early for more than 300
employees at Amarillo National Bank when they found out they'd be getting a
$1,000 pay raise.
The bosses at ANB are saying the pay increase
is because of the GOP's tax reform bill.
The raises are the highest salary and wage
increases in the bank's history.
313 of the bank's 600 full-time, non-salaried
employees will get an immediate raise of $1,000.
ANB says they also plan on investing another
$2.5 million into its downtown properties.
Executive Vice President William Ware says
the bank will be saving a ton of money with the new tax bill so they're
investing those savings back into their most valuable asset, their
employees.
Executive Vice President William Ware
said, "This is a once in a lifetime opportunity and we know with
the savings from the tax reform bill, we want to reinvest that back into our
bank and the first place we are going to put it is into our employees. That's
our most important asset and we feel like that's a great thing to
do."
ANB has 18 branches in Amarillo, Canyon,
Borger and Lubbock. – Dec.
21, 2017 MyHighPlains.com article excerpt
Americollect –
$300 - $500 bonuses for 250 employees
“Today, Congress passed the tax reform bill;
our company will be taxed less because of it. Since we will now be
taxed less, I wanted to take this opportunity and utilize this financial
benefit to give back to each of you, our teammates, by directly
impacting your paycheck in the form of a bonus!” -- Americollect President and
CEO Kenlyn T. Gretz
American
Airlines -- $1,000 bonuses for every employee (excluding
officers). The bonuses will total $130 million. AA had 127,600 employees as of
Sept. 2017.
“Recent tax reform has received much
publicity. While the company does not yet pay cash taxes due to our enormous
losses in the past, there is no doubt that our country’s new tax structure will
have positive long-term benefits for American. We will be able to invest even
more in aircraft and facilities, and we will be able to do so with even greater
confidence about the future. As we analyze those potential future benefits, our
leadership team, backed by our Board of Directors, considered how a portion of
that positive impact might be directly shared with the very people who produce
the profits at American—all of you.
We are pleased to announce that in light of
this new tax structure and in recognition of our outstanding team members,
American will distribute $1,000 to each team member (excluding Officers) at our
mainline and wholly owned regional carriers. These
distributions will total approximately $130 million and will be made in the
first quarter of 2018.” – American Airlines press release
American
Bank – $1,000 bonuses for 60 employees
“President and CEO Mark W. Jaindl
stated, “Beginning in 2018, we expect to see benefits from the recent
tax reform due to lower corporate tax rates. As we celebrate the
holiday season and prepare to close out another year of growth at American
Bank, the Board of Directors and senior management want to give back to our
team members who are directly responsible for our success.”
Mr. Jaindl continued, “We expect the
actions taken by Congress and the President will have a material positive
impact on growth throughout the country. As a result, we anticipate our
hiring efforts will increase in 2018.” –American Bank press release
American
Community Bank & Trust (Woodstock, Illinois)
-- $500 bonus to each employee; additional employees will be hired
American
Savings Bank – $1,000 bonuses to 1,150 employees; base wage
increase from $12.21 to $15.25
AndyMark,
Inc. (Kokomo, Indiana) – This mechanical and electrical
parts supplier will be able to expand the business and hire more employees
thanks to tax reform:
Andy Moser, president and owner of AndyMark,
which operates from a facility on North Washington Street and manufactures and
distributes mechanical and electrical parts for the competitive robotics
market, said savings from the tax cut has accelerated his plans to hire
more workers.
He said the company currently employs 25
full-time workers and up to 30 part-time and seasonal workers. Now,
Moser anticipates doubling his workforce in the next five to 10 years.
“I think the tax bill is going to accelerate
our growth,” he said. “We want more diversity with our business and more
vertical integration, which requires more staff, and the tax cut its going to
accelerate all that.” – Jan.
14, Kokomo Tribune article excerpt
Anfinson
Farm Store (Cushing, Iowa) -- $1,000 bonuses and
5% pay raises for employees
Anfinson Farm Store, a family business in
Cushing, Iowa (population 223), has awarded $1,000 bonuses and raised wages 5%
for all full-time employees as a result of tax reform. The good news was
delivered to employees in person just after Christmas.
In an interview with Americans for Tax
Reform, store owner John Anfinson said tax reform will boost “money that will
be available for the business overall and I want to use it in the right
places.”
Anfinson has helmed the store for about 45
years. His grandfather started the business as a general store in 1918, so they
will soon celebrate 100 years of operation. His customers chiefly grow corn,
soybeans, and alfalfa.
“For us, we have a small number of employees.
I work every day shoulder to shoulder with everyone,” said Anfinson. “When you
work every day with a group of people, you know them and their family and you
appreciate everything they do. I value them and the interest they take in our
customers. They are the most valuable asset in any business.” – Jan. 9, 2018
ATR blog post
Apple (Cupertino,
California) -- $2,500 employee bonuses in the form of restricted stock units;
$30 billion in additional capital expenditures over five years; 20,000 new
employees will be hired; increased support of coding education and science,
technology, engineering, arts, and math; increased support for U.S.
manufacturing:
Bonuses:
Apple Inc. told employees Wednesday that it’s
issuing a bonus of $2,500 worth of restricted stock units, following
the introduction of the new U.S. tax law, according to people familiar with
the matter.
The iPhone maker will begin issuing stock
grants to most employees worldwide in the coming months, said the people, who
asked not to be identified because they weren’t authorized to speak publicly.
The move comes on the same day Apple said it would bring back most of its cash
from overseas and spend $30 billion in the U.S. over the next five years,
funding an additional technical support campus, data centers and 20,000 new
employees.
Apple confirmed the bonuses in response to a
Bloomberg inquiry Wednesday. –Jan.
17, 2018 Bloomberg News article excerpt
Capital expenditures,
etc:
Apple expects to invest over $30 billion in
capital expenditures in the US over the next five years and create over 20,000
new jobs through hiring at existing campuses and opening a new one.
Building on the initial success of the
Advanced Manufacturing Fund announced last spring, Apple is increasing the size
of the fund from $1 billion to $5 billion. The fund was established to support
innovation among American manufacturers and help others establish a presence in
the US. It is already backing projects with leading manufacturers in Kentucky
and rural Texas.
Apple works with over 9,000 American
suppliers — large and small businesses in all 50 states — and each of Apple’s
core products relies on parts or materials made in the US or provided by
US-based suppliers.
Apple, which has a 40-year history in education,
also plans to accelerate its efforts across the US in support of coding
education as well as programs focused on Science, Technology, Engineering, Arts
and Math
(STEAM). – Jan.
17, 2018 Apple press release excerpts
