SIOUX FALLS, S.D. (KELO.com) -- Sioux Falls-based Great Western Bank is the latest on the growing list of companies nationwide boosting pay for workers, as a result of the new tax reform law.
President of Great Western Bancorp, Inc. Ken Karels says their minimum wage is going to $15 an hour.
"We strive to raise that to 15 dollars an hour over a number of years. The tax reform has allowed us to do that all at once and do that right now." and what's more, Karels says most of his employees will be getting $500 bonuses.
"We wanted to pass on the tax reform savings to those that matter the most at Great Western Bank."
But the general public will also benefit in the communities that Great Western serves. Karels says it will double the money it puts into grant programs to help local causes.