U.S. Senator Toomey Tours Ellwood Group In Warren County
WARREN — Ellwood Group Inc. had a way to quantify the Tax Cuts and Jobs Act last week when U.S. Senator Pat Toomey toured Irvine facility.
According to David Barensfeld, the company’s chairman, president and CEO, Ellwood — which makes military defense equipment among other heavy metal machine parts — is investing $10 million in “the largest commercial robot in the world,” which Barensfeld said will increase Ellwood’s overall efficiency by robotically transferring warhead casings from machine to machine.
As part of a tour across the state supporting the Tax Cuts and Jobs Act, which lowers corporate tax rates, Toomey made a stop at the Ellwood Group before heading off to Forest and Venango counties.
His goal was to “get a better understanding of the work that’s done here,” which includes supplying the U.S. Air Force with its warheads.
Toomey said that his stop at Ellwood was both to gain a better understanding of Ellwood’s specific contribution to the nation’s defense, but also to understand the unique needs of local businesses.
“This is a huge employer in Warren County,” Toomey said.
With the $10 million automated machining cell, the senator said the tax reform is doing what it was meant to do with Ellwood investing new capital.
The federal Tax Cuts and Jobs Act lowered the maximum corporate income tax rate to 21 percent, “designed to make it more affordable for business to invest new capital,” Toomey said.