Charlotte Pipe Associates To Receive Special $1,000 Bonus
CHARLOTTE, NC – January 8, 2017 – As an expression of gratitude for our associates’ hard and productive work in 2017, and in anticipation of the lower federal tax rates made possible by The Tax Cuts and Jobs Act, we are pleased to be able to pay each Charlotte Pipe associate a special $1,000 bonus. This bonus will be payable by March 15, 2018.
We are cautiously optimistic that the healthy economic expansion we have experienced in 2017 will continue into 2018. During the last three quarters of 2017, Gross Domestic Product (GDP) growth will reach approximately 3% after being mired in the 1.5% to 1.8% range for many years. Our customers are busy and have healthy backlogs well into next year.
In addition, we believe the massive tax overhaul plan just passed by the Republican members of Congress and signed by the President will make American manufacturers more competitive worldwide and provide more opportunities for robust growth here at home. Our corporate tax rate, which has been the highest of any country in the developed world, will now be on par with the average tax rate of these same countries. Investments in new machinery and equipment will be more attractive, and opportunities to expand our business should increase. The President and the Republican members of Congress also passed substantial middle class tax cuts which will likely increase your take-home pay and further improve the economy.
We are excited to share the benefits of our associate’s diligent efforts, loyalty, and dedication to Charlotte Pipe, and the benefits that will accrue from The Tax Cuts and Jobs Act.
About Charlotte Pipe and Foundry Company
Charlotte Pipe and Foundry is the only manufacturer that offers a system of ABS, PVC, CPVC, cast iron, FlowGuard Gold®, and ChemDrain® pipe and fittings for residential and commercial plumbing systems and industrial applications. The nation's leading maker of cast iron and plastic pipe and fittings, Charlotte Pipe and Foundry offers the industry's broadest product offering of standard and specialty DWV products.
Charlotte Pipe and Foundry was founded in 1901 and is headquartered in Charlotte, NC. Charlotte Pipe is American-owned and American-made, with seven plant locations across the United States. Combining modern technology with a century of craftsmanship and experience, Charlotte Pipe and Foundry has a proud legacy of commitment to the industry and its customers.
For more information, contact Charlotte Pipe and Foundry at (800) 438-6091.