GRAND ISLAND, Neb. (AP) — In a move intended to boost spending in the central Nebraska city of Grand Island, ammunition company Hornady Manufacturing has issued employee cash bonuses in the form of $2 bills, with a request from management to spend the money in town.
The company recently handed out $61,000 worth of $2 bills to its employees as part of the company's annual bonus pay, company vice president Jason Hornady told the Grand Island Independent (http://bit.ly/1kUGII4 ).
Getting his hands on 30,500 $2 bills takes some doing, Hornady said. He orders the bills from a bank about a month in advance.
Hornady Manufacturing is one of Grand Island's leading employers with more than 300 people on its payroll.
Hornady said the pay envelope with the $2 bills is just part of employees' bonus pay.
"They also receive a nice check and a deposit into their 401(k)s," he said. "But we ask them with the $2 bills to go spend it around town and make sure people know that we, as a family — meaning the whole employer/employee base — support Grand Island, and we spend money here."
The $61,000 in cash bonuses is a 27 percent increase from last year's $48,000 in cash bonuses — also distributed in $2 bills.
Hornady credited "unprecedented demand" for ammunition — and employees' hard work to meet the increased demand — for the jump in bonuses.
"Nothing would happen without a great crew of people," he said. "Bonus day is a lot of fun around here, and there are a lot of people smiling."
Information from: The Grand Island Independent, http://www.theindependent.com