PotlatchDeltic Supports Childcare for Team Members at St. Maries
Our St. Maries, Idaho lumber and plywood complex is situated in a picturesque rural community nestled in a beautiful timbered valley along the St. Joe River. The population of about 2,800 people is driven by the timber industry, complemented by some mining operations and a solid base of farming. PotlatchDeltic is by far the largest employer in the town, with about 364 Team Members working at the complex.
As a result, significant emphasis is placed by the complex on contributing to the well-being of the community. This includes charitable donations, which range from free swimming lessons in the summer, to supporting events like the local county fair, or capital contributions towards PotlatchDeltic Field at the Lumberjack Community Sports Complex.
Finding quality, reliable childcare can be one of the biggest stressors for a parent. In addition, the significant cost of childcare itself can pose a great challenge as it can take up a large portion of a parent’s monthly expenses. According to the Care Index, a ranking of all 50 states based on the cost, quality, and availability of paid childcare in each state, Idaho’s average cost of childcare is 25% of the median monthly household income. Additionally, Idaho is among the states with the lowest availability of childcare. Since many of our Team Members are parents, we know that they are experiencing these issues as well.
In 2022, we partnered with two local licensed and insured childcare providers to offer subsidized childcare to Team Members at the complex. This program started in 2023 and will continue in 2024. PotlatchDeltic is subsidizing up to 50% of our St. Maries Team Members’ monthly childcare expenses up to an annual maximum of $5,000.
This subsidy is intended to help Team Members with the financial burden and stress of paying for childcare as well as to offer a solution for reliable care for their children during the hours they are at work. This partnership with the childcare providers allows them to provide adequate staffing and expanded hours that meet the needs of our Team Members.
As of December 2023, the subsidy program had 34 employees enrolled in the program throughout the year. There were 4 employees hired in 2023 who enrolled in the program. Participation started at the beginning of the year with 17 employees and ended with 24. We believe this offering could assist in attracting new Team Members and as the program grows it will help us retain our valuable Team Members in St. Maries.
FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking statements within the meaning of the federal securities laws. Words such as “annual,” “believe,” “campaign,” “can,” “continue,” “could,” “monthly,” “will,” and similar expressions are intended to identify such forward-looking statements. These statements reflect management’s views of future events based on assumptions and are therefore subject to known and unknown risks, uncertainties, and other factors, and are not guarantees of future conduct, results, or policies. Please view the Cautionary Statement Regarding Forward-Looking Information on page 134 of PotlatchDeltic’s 2022 ESG Report.
