What would you do with a million dollars? Would you quit your job and travel the world? Or maybe you would go the less traditional altruistic rout and help humanity by donating to charity. Either way, you wouldn’t hate the sudden windfall of cash. But on the complete opposite end of the pain-gain spectrum is of course the loss of a million dollar. Most of us can’t fathom what its like to lose such a large sum of money considering it would take us a lifetime to make up that difference on top of our normal salary. Even larger companies who bring in millions a month would probably squirm a little at losing so much money in one single blow. But that was unfortunately the case recently with MGP Products Inc. that was ordered to pay a $1 million hazmat fine.
The True Impact of Hazmat Fines and Civil Penalties
Getting fined for improper chemical storage should never be seen as just a part of doing business. For one, this is a terrible mindset to have when it comes to improving working morale and instilling confidence in the community you serve that you care about the environment and ecosystem. Second, one must factor other intangibles like the residual effects of fines. If a company receives one slew of fines for improper chemical storage, they will immediately top the list of possible repeat offenders by OSHA and the EPA, meaning more impromptu visits from government agents, taking more time out of the day that should be spent on getting work done. There’s also the reputation factor: no one wants to work for a shady company that always making the news for the wrong reasons – no matter how desperate someone could be for work. And what about the local government? No municipality wants a factory with with shoddy storage practices coming to their town. Having a less than satisfactory reputation won’t do much to get a business tax breaks or state grants for necessary production upgrades that help turn out even greater future profits.
Due to Inflation, Hazmat Fines Are Expected To Rise Anywhere from 100 to 500 percent!
One thing that fined companies had in common was these civil penalties were completely avoidable. Each dangerous chemical contains safety data sheets that outline volatile chemicals, inherent risks and how to properly store hazardous materials in appropriate storage. Some companies refused to simply ignore or overlook valid information so they could cut corners in overhead and maximize profit. What they didn’t understand is that will eventually pay more in the long wrong once they factor in fines. And what’s more? Those fined companies will still have to provide compliant on the site chemical storage as per any agreement drawn up by the EPA or OSHA – they will get your undivided attention one way or another.
Stay Compliant, Stay Financially Solvent
Hazmat fines for improper chemical storage should never be factored into overhead or budgeted for the upcoming fiscal year. It’s like driving a car without insurance, sooner or later, an accident will take place and you’ll be on the hook for thousands of dollars. A fire-rated chemical storage from U.S. Hazmat Rental is the perfect turnkey solution for any storage project. We streamline the entire rental process, so there’s no getting bogged down in the infinite details of OSHA and EPA regulations concerning the storage of hazardous materials. Just tell us what you need and our experienced building advisors will put together a complete list of cost-effective options. Each locker comes outfitted with a continuous spill sump containment system. If a spill takes place in the storage locker, it will simply pass through the steel grated flooring and remain in the sump until safely removed. Optional fire suppression and climate control is provided to keep volatile chemicals in optimal temperature ranges to prevent combustion of changes to the chemical consistency of the product.
