Magid Provides More Than $100,000 for Employee Gas Subsidy Program

Magid announced that it provided more than $100,000 to employees to help offset the rising cost of gas. According to Magid, a PPE manufacturer and distributor, it originally implemented a $50,0000 gas subsidy program to aid employees, but positive feedback and a lack of relief at the pump prompted the company to continue the program.

The gas price relief program offered employees a $1 per gallon subsidy from May through September to help with the commute to the office and for customer visits. The company enrolled all employees that did not have an electric vehicle in the program.

“The one thing I love about Magid is that when the road gets tough everyone is willing to pitch in to turn things around,” says CEO Greg Cohen. “Rising gas prices were a significant challenge for many. So, we wanted to pitch in and do our part to help cover the burden and unexpected costs this put on our team members. Our people make all the difference at Magid and this was one way for us to show our appreciation.”

Magid employs more than 500 people at its Romeoville, Ill., location.

Natural gas prices surged over the summer for a variety of reasons, including the disruption of global supplies due to the war in Ukraine and higher demand in the U.S. However, gas prices decreased during the latter stages of the summer. This past Wednesday, U.S. gas prices rose for the first time in 98 days, according to the American Automobile Association. The 98-day streak of declines was the longest of its kind since 2005.

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