Tax Reform Has Indiana Off To The Races

Hoosier Small Businesses Say ‘I Think The Tax Bill Is Going To Accelerate Our Growth,’ ‘Obviously We’re Going To Be Able To Do More For Our Employees’

“Sen. Todd Young, R-Indiana, has been holding tax-reform roundtables throughout the state to take the pulse of the business community and stay in touch with its legislative needs. When he checked in with executives from the organizations at [general contractor Michael Kinder & Sons] offices April 27, they were upbeat about the business impact of sweeping tax reforms put in place late last year by Congress and President Donald Trump.” (“Tax Reform Heats Up Business Activity,” Greater Fort Wayne Business Weekly, 5/04/2018)

• MICHAEL KINDER & SONS VP BILL KINDER: “We’re an S corporation and the way it’s set up, at least the way our accountants read it today, there’s going to be a significant benefit for our firm…. Obviously we’re going to be able to do more for our employees…. We’re going to be able to grow. We’re going to be able to do more development. We’re going to invest it.” (“Tax Reform Heats Up Business Activity,” Greater Fort Wayne Business Weekly, 5/04/2018)

• “MKS employs about 100 people and Doug Kinder, its president, said the company could grow its workforce at least 25 percent but probably would require time to find qualified employees who were the right fit for it.” (“Tax Reform Heats Up Business Activity,” Greater Fort Wayne Business Weekly, 5/04/2018)

• “In addition to using its tax savings to invest in finding and training employees, MKS plans to invest more in technology and construction equipment. ‘The company is expanding to handle increased business from clients who are in a better position to build as a result of tax reform and an overall strengthening of the economy,’ Kinder said. ‘In the last six months, it’s been unbelievable, really unbelievable what’s going on.’” (“Tax Reform Heats Up Business Activity,” Greater Fort Wayne Business Weekly, 5/04/2018)

• “Some of the investment MKS increases will involve its work with the community nonprofit groups it helps support, such as Turnstone, the Boys and Girls Club, Youth for Christ and Junior Achievement. All of the groups contribute to the quality of the region’s workforce in one way or another, and MKS supports them partly because the company likes to hire employees who have had a connection with them, Kinder said.” (“Tax Reform Heats Up Business Activity,” Greater Fort Wayne Business Weekly, 5/04/2018)

“A Kokomo-based, worldwide robotics parts supplier will invest $1.5 million to expand its operations in Kokomo and create 30 additional jobs by 2021. Founded in 2004, AndyMark is one of the leading distributors and makers of robotics parts within the robotics mobility and competition market, with a focus on robotics education … AndyMark has purchased an 88,000-square-foot facility at … on the city’s northeast side to accommodate even more growth.” (“AndyMark To Double Its Operations In Kokomo,” Kokomo Perspective, 3/13/2018)

• “Andy Baker, president and owner of AndyMark … said savings from the tax cut has accelerated his plans to hire more workers…. ‘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.’” (“A Tax-Bill Boom: Area Employees See Pay Raises, Bonuses After Corporate Tax Cut,” Kokomo Tribune, 1/14/2018)

Indiana Companies ‘Bet On America,’ ‘Boost Worker Pay And Benefits’

“Valparaiso-based Family Express, which has 70 convenience stores across Indiana and is in the process of building 10 more, is bumping its starting wage to $11 an hour. The 43-year-old convenience store chain is raising entry-level pay by $1 an hour, after pre-empting national retailers like Walmart with above-market starting wages in April 2015. Family Express said it was boosting pay because of the tax cuts that reduced the corporate tax rate from 35 percent to 21 percent and as a bid to recruit quality employees and reduce turnover.” (“Family Express Raises Starting Pay To $11 An Hour,” Northwest Indiana Times, 2/05/2018)

• FAMILY EXPRESS PRESIDENT AND CEO GUS OLYMPIDIS: “We feel obligated to pass on a significant portion of the tax savings to our staff…. Our employees are the ones that exemplify the unique brand promise that we extend to our valued customers day after day. The tax package is permanent, so instead of a one-time bonus, the pay adjustment will be permanent.” (“Family Express Raises Starting Pay To $11 An Hour,” Northwest Indiana Times, 2/05/2018)

“Indianapolis-based Centaur Gaming on Tuesday announced it would be sharing its federal tax cut with employees by giving each of them a $500 bonus check…. The bonuses are going to all full-time, part-time and returning seasonal team members who started with the company on or before March 5, the company said. Centaur said it would cover any extra taxes or deductions brought on by the payments to make the perks a true $500 bonus.” (“Centaur Gaming Celebrates Tax Cut By Giving Employees $500 Bonuses,” Indianapolis Business Journal, 3/07/2018)

• “The bonuses are part of a special ‘Bet on America’ initiative to celebrate the passing of the federal Tax Cuts and Jobs Act, the company said. ‘Centaur Gaming has the utmost confidence in the future of our country and we firmly believe this important tax cut and job legislation will have a positive effect on the gaming and racing industry in Indiana, as well as the American economy in general,’ the company said in written comments.” (“Centaur Gaming Celebrates Tax Cut By Giving Employees $500 Bonuses,” Indianapolis Business Journal, 3/07/2018)

• “Centaur, which owns and operates Hoosier Park Racing & Casino in Anderson and Indiana Grand Racing & Casino in Shelbyville, said its 2,000 or so employees would receive the checks next week…. In addition to its facilities in Anderson and Shelbyville, Centaur operates Winner’s Circle Pub, Grille & OTB in Indianapolis; Winner’s Circle OTB & VooDoo BBQ & Grill in New Haven/Fort Wayne; and Winner’s Circle OTB in Clarksville.” (“Centaur Gaming Celebrates Tax Cut By Giving Employees $500 Bonuses,” Indianapolis Business Journal, 3/07/2018)

“Kroger Co. is hiring 11,000 workers to improve customer service and efficiency at its thousands of stores as competition among food retailers heats up. Kroger said the new positions at its nearly 2,800 supermarkets will include 2,000 managers and represent a 2% increase to its workforce of about 450,000 full- and part-time employees…. Midwestern states including Ohio, Indiana and Michigan are among those with the most Kroger stores.” (“Now Hiring in Aisle 3: Kroger Looks to Add 11,000 Supermarket Workers,” The Wall Street Journal, 4/10/2018)

• “Kroger, Walmart, Target Corp. and other food retailers are investing savings from the federal tax law to boost worker pay and benefits. Kroger has said it would spend $500 million on compensation, including raising starting wages in some regions to $10 an hour.” (“Now Hiring in Aisle 3: Kroger Looks to Add 11,000 Supermarket Workers,” The Wall Street Journal, 4/10/2018)

And Many Hoosiers Will Even Save On Their Utility Bills

“As a result of federal tax reform, NIPSCO [Northern Indiana Public Service Co.] natural gas and electric customers will benefit from a reduction in their monthly statements beginning with their May 2018 billing period…. For an average NIPSCO electric residential customer, the change will reduce bills by approximately $30 per year. NIPSCO natural gas residential customers will see an approximate $10 per year reduction. Commercial and industrial customers will also experience reductions in their bills beginning at the same time. ‘This lower amount is great news for all our customers thanks to the savings associated with federal tax reform,’ said NIPSCO president, Violet Sistovaris.” (“Fed Tax Reform To Benefit NIPSCO Customers,” The Michigan City [IN] News-Dispatch, 5/02/2018)