Every day this week we’ve been spotlighting 3 companies around the country benefiting from GSP renewal. (Here are the posts from Monday, Tuesday, and Wednesday). Below are three more companies able to new and better American jobs because of GSP renewal:
- Thompson Traders in Greensboro, North Carolina: GSP expiration cost Thompson Traders $220,000 and forced it to lay off 8 people, dropping employment to 12 workers. With GSP renewed, Thompson Traders initiated a new product line and has doubled to 25 workers.
- Universal Arquati in Santa Clarita, California: After paying over $180,000 in extra import taxes during GSP expiration, renewal allowed Universal Arquati hire 12 new workers and buy equipment that will help increase sales even more.
- Sophia Foods in Brooklyn, New York: GSP expiration cost Sophia Foods $46,000 in extra taxes and forced the small business to lay off 2 workers. With GSP back in place, Sophia Foods hired 2 workers to fill the positions eliminated during expiration – and then added 2 more new positions.