FOR IMMEDIATE RELEASE: May 18, 2005
Lt. Gov. Jennings cuts ribbon on state of the art cement plant and recognizes Titan’s $700,000 contribution to education
MIAMI, Fla., May 18, 2005 – The Titan America group of companies will welcome Lieutenant Governor Toni Jennings and County Commissioner Jose Diaz to its Pennusco Cement Plant in Medley today to celebrate the plant’s re-opening and Titan’s new partnership with Step Up For Students, an initiative of the Corporate Tax Credit scholarship program. The newly renovated Pennusco plant, which employs 130 Medley individuals, now boasts the lowest emissions, per ton of cement produced, of any cement plant in Florida. Titan is marking the re-opening with a donation to Step Up For Students, which provides scholarships for low-income Florida students. Under the Corporate Tax Credit program, corporate sponsors like Titan re-direct a
portion of their state tax liability to scholarship funding organizations that award scholarships to low-income students. In exchange, corporations receive a 100% Florida Income Tax Credit for every dollar donated. Titan America is one of the first global companies to sign on as a donor to the four year-old Step Up For Students program, which has raised $150 million in four years.
During the event, Step Up For Students scholarship recipients will tour the plant, learning about Titan’s strategies for environmental stewardship. “This is one more way for Titan to turn its success into opportunity for others,” said Hardy Johnson, Titan President of Florida Business. “We are always looking to improve the communities we work in by exploring new ways to continue to be good stewards of the environment. Now we are thrilled to help families and students in those communities command stewardship of their education and future.”
Titan joins the ranks of other Step Up For Students donors, including Albertson’s, Dillard’s, Gate Petroleum and Florida Rock, that support quality education as the key to a full life and a well-educated workforce. Kerri Vaughan, managing director of Step Up For Students, says, “Bringing on a worldwide corporation like Titan is an important sign that our communities are rallying behind, and supporting, students. This program allows businesses to support education, help build a better-educated workforce and contribute to their communities.”
The Corporate Tax Credit program – also known as “Step Up For Students” – provides K-12 scholarships that allow over 11,000 low-income Florida students to attend a private school or out-of-district public school. One hundred percent of corporate contributions go directly to funding scholarships – not a single penny can be used for administrative costs. The program currently serves over 2,600 students in Dade County. Florida companies continue to embrace the program, with the first month of 2005 recording eight times the amount of corporate donations as the same period last year.The full report can be found at http://www.collinscenter.org. For additional information on Step Up For Students and the Corporate Tax Credit Scholarship Program visit www.stepupforstudents.com.
Step Up For Students is an initiative of the Florida Corporate Tax Credit Scholarship Program and advocates for educational options for Florida’s families who have limited financial resources.