Tax Reform Boon For The Bluegrass State

‘Tax Reform Means Big Things’ To Kentucky Job Creators

Covington, Kentucky: “Tax reform means big things for Glier’s Meats of Covington—including multiple wage increases for their employees since the law was passed. Dan Glier, president of Glier’s Meats, explained the impact on his employees. ‘We put in some rather nice wage increases since the first of the year,’ he said, explaining how he was handing much of the company’s tax savings back to the 29 employees who help make the company strong.” (“Glier’s Meats of Kentucky Gives Employees Raises, Invests In New Equipment Due To Tax Reform,” National Association of Manufacturers’ Shopfloor Blog, 6/13/2018)

• “Glier plans to use his tax savings not just to reward his employees, but to grow and expand his business. Glier’s Meats plans to invest in critical new equipment that will help better position the company for the future—including a $250,000 sausage-stuffing machine that Glier said wouldn’t have happened in 2018 without the savings from tax reform. More machines, which will double productive capacity while shortening the workday for employees, are also being purchased.” (“Glier’s Meats of Kentucky Gives Employees Raises, Invests In New Equipment Due To Tax Reform,” National Association of Manufacturers’ Shopfloor Blog, 6/13/2018)

• “The big investment in the business also means more hiring: in 2018 alone, Glier’s Meats has grown from 25 employees to 29 employees—and still plans to hire another 5 in coming months…. ‘Tax reform has changed the economics,’ Glier said. ‘With the ability to recoup taxes, big changes are now possible.’” (“Glier’s Meats of Kentucky Gives Employees Raises, Invests In New Equipment Due To Tax Reform,” National Association of Manufacturers’ Shopfloor Blog, 6/13/2018)

• “Glier also added that, for the first time in 6 years, Glier’s Meats was successful enough to offer comprehensive health benefits to their employees—something they had offered since the 1950s, but had to roll back in recent years due to the economic climate and burdensome healthcare regulations.” (“Glier’s Meats of Kentucky Gives Employees Raises, Invests In New Equipment Due To Tax Reform,” National Association of Manufacturers’ Shopfloor Blog, 6/13/2018)

• “‘These projects are made possible because of the savings Glier’s Meats will see under the tax reform bill. ‘We had a number of projects that were seen as something we could consider doing down the road,’ Glier told us. ‘But because of tax reform, it’s possible to reinvest in the plant and in new equipment now.’” (“Glier’s Meats of Kentucky Gives Employees Raises, Invests In New Equipment Due To Tax Reform,” National Association of Manufacturers’ Shopfloor Blog, 6/13/2018)

Louisville, Kentucky: “Louisville-based steakhouse chain Texas Roadhouse announced that it planned to invest the money it would save from the federal tax reform to pay employees more, offer them additional benefits, keep menu prices aggressive …” (“The Closing Bell: Texas Roadhouse Makes Tax Reform Moves,” Insider Louisville, 2/22/2018)

• “Management reiterated the following expectations for 2018: … Approximately 30 company restaurant openings …” (Texas Roadhouse, Press Release, 4/30/2018)

• “Texas Roadhouse’s expected tax rate for 2018 will be 15 percent to 16 percent, she said. That’s down considerably from the 28.8 percent tax rate the steakhouse chain paid in 2017.” (“The Closing Bell: Texas Roadhouse Makes Tax Reform Moves,” Insider Louisville, 2/22/2018)

Guthrie, Kentucky: “Atlanta-based aluminum producer Novelis Inc. has officially broken ground on its $300 million automotive aluminum sheet manufacturing facility in Guthrie, Kentucky. The 400,000-square-foot facility will have an estimated annual capacity of 200,000 metric tons and is expected to be operational by 2020.” (“Novelis Breaks Ground On Aluminum Plant In Kentucky,” Recycling Today, 5/21/2018)

• “Novelis Inc., the world leader in aluminum rolling and recycling, today hosted community members, federal, state and local officials to break ground on its $300 million automotive aluminum sheet manufacturing facility in Guthrie, Kentucky…. that will create approximately 125 jobs …” (Novelis, Press Release, 5/14/2018)

• “The significant positive impact of tax reform in the U.S. reinforces Novelis' decision to expand at this time. A favorable economic environment has enabled Novelis to recently finalize key contracts totaling approximately $60 million for engineering plans, site preparation and state-of-the-art equipment for the greenfield facility.” (Novelis, Press Release, 5/14/2018)