Background on the President’s Visit to Stromberg Sheet Metal in Beltsville, Maryland Today
Today, the President will visit Stromberg Sheet Metal, a medium sized business in Beltsville, Maryland. He will tour the facilities and then deliver remarks to employees. Stromberg employs approximately 350 people and hopes to expand the workforce as revenues increase and additional projects come online in the coming year.
The President will discuss a new report issued today by the Department of the Treasury that details how his proposal to allow businesses and investors to deduct immediately the full cost of most investments will help businesses expand and hire. The report can be found HERE. Under the President’s proposal, a business like Stromberg would be able to take advantage of this proposal to invest in new equipment this year or next year and deduct 100 percent of that investment immediately. For example, if a business bought an additional $1 million worth of equipment next year, they would be able to deduct the full $1 million up front, potentially accelerating hundreds of thousands of dollars in tax cuts. That’s real money that businesses like Stromberg could use to expand or hire new workers right now, and provides a strong incentive to increase investment now, creating even more jobs.
ELECTED OFFICIALS EXPECTED TO ATTEND
Senator Ben Cardin, D-MD
MORE BACKGROUND ON STROMBERG SHEET METAL
Provided by Stromberg Sheet Metal
Stromberg Sheet Metal, Inc. was founded in 1940 by Paul Stromberg, a former Navy Metal Smith who did work for the Navy yard in Washington, DC. In 1950, Mr. Cavet Snyder was hired by Mr. Stromberg as a young engineer. The company grew in size and in 1958, Mr. Robert Gawne, a 1950 graduate of Notre Dame with a BS in Mechanical Engineering was hired as Chief Engineer. Together, these young engineers led the company to rapid expansion. After nearly 30 years of service, Mr. Gawne purchased Stromberg Sheet Metal, Inc from the then current owners in 1987. Mr. Gawne and 102 employees became the new owners of Stromberg Sheet Metal, Inc. through an Employee Stock Option Plan. As of today Stromberg has paid 42 of the ESOP owners and retired their stock. Celebrating its 70th year in operation, Stromberg continues to grow and remains a top choice as both a large and small projects contractor.
Robert B. Gawne – CEO, Tour Leader
Born in 1928, Gawne received his mechanical Engineering Degree in 1950 from the University of Notre Dame. He was a Captain in the U.S. Marine Corps from 1950-1953. He was a Mechanical Engineer for Chatelain, Gauger & Nolan FAIA from 1953-1958. He joined Stromberg in 1958. Gawne has been married to his wife Patricia for 58 years. Together they have 6 children, 20 grandchildren and 6 great-grandchildren.
Gawne contributed to SMACNA (National) rewrite of Low Pressure Duct Construction Standards - 1976 Edition. In 1988 Gawne became National President of the National Environmental Balancing Bureau (NEBB); he was also past President of the Washington, D.C. Chapter of Sheet Metal Contractors. He is Chairman of Local 100 Apprentice Committee (since 1971) and a member of ASHRAE, SMACNA, MCA, Local 100 Board of Trustees and the State of Maryland HVAC Review Board.