Scout Boats expects to pass more than a million dollars of benefits from the new federal tax reform law on to its hourly workers as part of a bonus incentive plan.
All hourly employees in good standing will be eligible for a $1,000 bonus. It will be given as midyear and end-of-year $500 bonuses.
“While we're not sure what the exact amount of tax savings will be for 2018, based on our continued growth, we do plan to pass on a good portion of these savings to our employees,” Scout CEO and founder Steve Potts said in a statement.
Potts also said that “with our growth, this investment in our most valuable asset will certainly exceed a million dollars over the next few years.
“We’re confident this will help further stimulate our own company morale among current employees, as well as become an attractive career opportunity for new employees we’re currently searching for.
“As our facility grows through our recent planned expansion, so does the need to hire skilled laborers looking for long-term employment at a respected manufacturer. Thanks to the tax reform bill we are now on an even more positive track to continue the sustained growth of our South Carolina-based operation.
“As a recipient of the Roaring Twenties Award the past four years in a row, it’s proven that Scout believes in its South Carolina roots, and we want to continue to build on our reputation and legacy,” Potts said. “Government support for the American entrepreneurial spirit does not go unnoticed here, and we believe by us giving back to our employees, we’re doing exactly what was originally intended with the tax reform bill.”