Latta Tours 20/20 Custom Molded Plastics, Business That Raised Wages After Passage of the Tax Cuts and Jobs Act
Today, Congressman Bob Latta (R-Bowling Green) toured 20/20 Custom Molded Plastics in Holiday City to discuss what the business is doing in light of the recent passage of the Tax Cuts and Jobs Act. In part because of tax relief provided by the new law, 20/20 increased the hourly wages of their employees by 50 cents per hour, equivalent to more than $1,200 annually for full-time workers. In addition, the company is undergoing a $20 million expansion at their Holiday City location where they are adding a 140,000 square foot building and purchasing a 6,600 ton high pressure injection molding machine. 20/20 is also investing $13 million in new equipment in their Bluffton, Indiana facility and are looking at a new state of the art manufacturing facility in Bluffton as early as 2019 because of tax relief from the new law.
“Positive news continues to be the theme of our economy because of the Tax Cuts and Jobs Act,” said Latta. “I appreciate 20/20 Custom Molded Plastics giving me the opportunity to tour their facility and talk with their employees about the difference that tax relief is making. Stories like this are becoming the norm for businesses across Ohio as pro-growth policies are allowing businesses to invest in their work force.”
“As a business owner our job is to grow the business which includes investments in our people and the equipment and systems that make them successful,” said 20/20 Treasurer David Rupp. “We understand that to pay for these investments requires after-tax dollars, and the tax relief we received in the tax legislation provide the additional resources to accelerate our investments in our employees’ and 2020’s future.”