Yesterday Georgia Senators Johnny Isakson and David Perdue highlighted a growing number of Georgia businesses and workers who are seeing a positive impact from the historic tax cuts signed into law only seven weeks ago. In alphabetical order here are the companies and a summary of the respective impacts:
Aflac (Columbus, Ga.) – Increased 401(k) match from 50 percent to 100 percent on the first 4 percent of compensation plus one-time $500 contribution to every employee’s 401(k); $250 million increase in overall U.S. investment.
AR-15 Gun Owners of America (Warner Robins, Ga.) – Bonuses and increased salaries for all employees.
AT&T Southeast/BellSouth Telecommunications (Atlanta, Ga.) – Announced it would give more than 200,000 employees a special bonus of $1,000 and invest an extra $1 billion in the U.S.
Carl Black Automotive Group (Kennesaw, Ga.) – Bonuses to more than 500 employees.
Expanded Technologies, Inc. (Marietta, Ga.) – Minimum bonuses of $500 for each employee and extra cash depending on length of service.
Home Depot (Atlanta, Ga.) – Bonuses of up to $1,000 for every hourly employee.
Lockheed Martin Corp. (Marietta, Ga.) – Plans to give $5 billion in cash toward its pensions and increase its commitment to initiatives such as employee training, charitable contributions for education in science and math, and the Lockheed Martin Ventures fund by $200 million.
Mincey Marble (Gainesville, Ga.) – Bonuses of up to $1,000 based on length of service.
Shred-X (Griffin, Ga.) – Plans to use the extra savings from tax reform to buy a new truck and hire a new employee at their company of ten people.
Starbucks Coffee Company (Augusta, Ga.) – Reaffirmed its commitment to add 500 manufacturing jobs at its Augusta, Ga., soluble coffee plant, where a $120 million expansion is planned for 2019; also announced new raises and benefits totaling $250 million and 8,500 new jobs nationwide.
Synovus Financial Corporation (Columbus, Ga.) – $1,000 bonuses to all non-executive employees.
Total System Services (Columbus, Ga.) – $1,000 bonuses for 11,500 employees.
UPS (Atlanta, Ga.) – $12 billion in investments to expand the company’s Smart Logistics Network and increase employee pensions.
Yancey Bros. (Austell, Ga.) – $500 bonuses for 1,200 employees.