Rep. Wenstrup Touts Tax Reform Benefits for Manufacturers at Sheffer
In Blue Ash, Rep. Wenstrup, Business Leaders and Workers Discuss Tax Reform Benefits and the Skills Gap Crisis in Manufacturing
Blue Ash, OH – Today, the National Association of Manufacturers (NAM) and Sheffer Corporation hosted Rep. Brad Wenstrup (OH-2) for a facility tour and business leader roundtable to discuss the positive impact of tax reform and the need to fill the high-skilled jobs required for modern manufacturing, which is critical to Ohio’s economic prosperity.
Thanks to Rep. Wenstrup’s support for tax reform, manufacturers in Ohio and across America are delivering for manufacturing workers and their communities, said NAM President and CEO Jay Timmons. We are keeping our promise to raise wages, hire new workers, buy equipment and make investments for the future. But at the same time, manufacturers are facing a workforce crisis. With 482,000 jobs open today, manufacturers are in desperate need of talented workers to fill high-paying jobs. Manufacturers will need to fill more than 3 million jobs through 2025, but as many as 2 million could go unfilled if we don’t fundamentally transform our nation’s workforce development strategy. Manufacturers appreciate the work of leaders like Rep. Wenstrup to equip more people with the skills to secure a rewarding, meaningful career in modern manufacturing.
During the visit, company leaders thanked Rep. Wenstrup for voting in favor of the historic tax reform package and reiterated their optimism for the future of manufacturing in Ohio.
Ohio’s 2nd Congressional District has a storied history of manufacturing, and industry plays a vital role in our economy and our communities, said Rep. Wenstrup. Local manufacturers like Sheffer Corporation were among the first to reinvest the benefits of tax reform into their workers and equipment. Thanks to our pro-growth agenda in Congress, demand for workers and products is up across Ohio and our nation. I appreciated the opportunity to see this incredible impact firsthand in my district.
The roundtable focused on the importance of building on the momentum of tax reform and helping build the high-skilled workforce to fill modern manufacturing jobs.
On behalf of all Sheffer associates, I would like to extend our sincere appreciation to Rep. Wenstrup for his support of the recently enacted tax reform bill, said Jeffery R. Norris, president and CEO of Sheffer Corporation. Each of our employees and their families have directly benefited from tax reform. Sheffer estimated our tax savings to be $126,000, and, as a result, we divided those savings equally among our employees. The bonus was paid out in addition to our wage increases and our profit-sharing payments. Reform like this enables companies like Sheffer to invest in our people, processes and machinery, which, in turn, ensures our growth now and into the future.
Manufacturing contributes an estimated $2.25 trillion to the U.S. economy and supports 687,400 jobs in Ohio alone, according to the NAM. Since the enactment of tax reform, the manufacturing industry has added 192,000 jobs—more than double the number of jobs created over the same period last year.
The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.