In The News

Yesterday, Dollar Tree announced it was investing $100 million in tax reform savings to raise wages, boost hours, enhance training, establish paid maternity leave, and increase contributions to retirement plans.

Currently, Dollar Tree has over 30 West Michigan locations including: Grand Haven, Grandville, Holland, Jenison, Kentwood, Ludington, Muskegon, Norton Shores, Walker, and Wyoming.

This is another example of how companies with a presence in West Michigan are responding positively to the Tax Cuts and Jobs Act and investing tax savings in their employees.

Below is the announcement from Dollar Tree.

Impact of the Tax Cuts and Jobs Act of 2017 (TCJA)

As noted previously, the Company benefited in the fourth quarter and fiscal 2017 with respect to the TCJA. The Company expects to continue to benefit going forward and currently estimates the benefit to be approximately $250 million for fiscal 2018. As a result of the estimated cash benefit, the Company plans to invest approximately $100 million through the following actions:

• Invest in stores with more hours, including training for associates,

• Invest in people with increased average hourly rates,

• Add Family Dollar eligible associates to the Defined Contribution Plan starting in fiscal 2017 and increase contributions in fiscal 2018, and

• Establish paid maternity leave for eligible associates.