More and more manufacturers are taking advantage of tax reform and an improving business climate to grow their business and expand their facilities. Companies like Lockheed Martin and Honeywell International have announced major investments in recent weeks. Smaller manufacturers like Ohio-based Sheffer Corporation or Pennsylvania-based H&K Equipment have unveiled plans to invest in their businesses and their workforce as well.
Cambridge Security Seals, a Pomona, New York–based startup manufacturing company, plans to do the same.
After growing from two to more than 60 employees in just seven years, Cambridge Security Seals announced this month that, spurred on by the improvement in the business climate due to the reduction in regulations and the benefits of tax reform, the company plans to invest $3.65 million to expand its production capacity by up to 40 percent. CEO Elisha Tropper doesn’t see the growth slowing down anytime soon:
“We are investing with confidence knowing that there will be significant income tax benefits to us as we grow, and more importantly, that the tax reform law will be positively effecting our market of customers, whose growth will translate into greater demand for our products.”
The company will be adding high-capacity production lines utilizing proprietary technology to produce tamper-evident seals at greater speeds and efficiency with extraordinary quality control. Tropper added that the expansion will create new jobs for machine operators, maintenance technicians, programmers and sales and customer service staff.
“The expansion itself will also yield construction jobs, as well as benefit our local economy through the added business that our expansion will bring,” Tropper said.
While Tropper feels confident in the tax plan, manufacturers like Cambridge Security Seals know there is still work to be done. Workforce development remains a top issue—millions of high-skilled manufacturing jobs are expected to go unfilled in the next decade due to the skills gap. The National Association of Manufacturers is committed to fighting for policies that empower manufacturers to grow and expand while developing a talented workforce that will continue to innovate and build America’s future.
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