Record State Mill Profit Means Big Bonus For Workers(AP) — A $16 million record profit at North Dakota's state Mill and Elevator also meant hefty bonus checks for its workers.
By: Associated Press, WDAZ
(AP) — A $16 million record profit at North Dakota's state Mill and Elevator also meant hefty bonus checks for its workers.
The state-owned flour mill has a profit-sharing program that kicks in if the mill meets specified goals for profits, productivity and worker safety.
Mill general manager Vance Taylor says $1.4 million in profit-sharing checks were handed out at a company picnic for the mill's 134 employees earlier this month. The payments came after the mill's budget year ended June 30.
Taylor says the payments averaged $11,600 per employee. They equaled almost 22 percent of each worker's pay during the previous year.
Taylor says during the last decade, profit-sharing payments have averaged about 9 percent of a worker's wages.
Taylor says the profit-sharing program helps the mill's productivity.