WILMINGTON, NC (WWAY) — A Wilmington-based company is the latest, and may be the first independently owned company in the state, to give its employees a big bonus this year thanks to the republican-backed tax reform.
WWAY stopped by the Atlantic Packaging headquarters to see just how many people are receiving a check and how they plan to spend it.
“This is a once in a generation kind of tax reform,” Atlantic Packaging President, Wes Carter said.
Due to the recent federal tax changes, 1,000 Atlantic Packaging employees are receiving bonuses.
“We’ve had people dancing, we’ve had people crying, we’ve had a lot of hugging, and our offices have been really a buzz for the past 2 or 3 days.” Atlantic Packaging CEO, Rusty Carter said.
The privately-owned company distributes packaging materials and operates manufacturing facilities for paper converting and other products. It has 16 sites, 14 across the US and one each in Honduras and the Dominican Republic.
Now, nearly all of their employees are getting an extra $1,000.
“I was first just so excited and just really thought about like how far this is going to reverberate through the whole company and how excited everyone was going to be so it was great.” Atlantic Packaging Marketing & Communications employee, Megan Criss said.
Criss plans to take her kids on vacation. As for others they plan to use their money in different ways.
“One lady said she was going to use it to complete her US citizenship,” Wes said. “Another lady said she was going to use it to pay off her daughter’s tuition. Several other people told me it was going to really help them with some debt that they were working to pay down, and others talked about using it as an investment for the future for their families. So, you know, the $1,000 was an exciting amount because it is meaningful to all people.”
Many add it is perfect timing, as they are paying off bills from the holidays.
Atlantic Packaging CEO Rusty Carter said it is a $1 million dollar investment, but the best kind of investment his company could make.
“I encourage other people to give it strong consideration. I think the tax savings are real, our people are the core of who we are and how we perform and we just find it altogether appropriate that a significant amount of this tax savings go to our employees.” Rusty said.
To get the bonus, employees must have worked at Atlantic Packaging for a full year.
For those who made the cut the $1,000 will hit their bank accounts by February 15, 2018.