international paper logoIsle of Wight County is about to lose a major employer.  International Paper announced the closure of their plant in Franklin.

The layoffs will begin November 7th and continue through spring until the plant is permanently closed.  The closure will effect 1100 employees.

Virginia is seeking aid for the workers under the federal Trade Adjustment Assistance Program.  In addition to the 1100 workers, it is estimated that another 2400 workers could be hurt.  Those workers include truckers, loggers, mechanics and other support service workers.

The current unemployment rate in Isle of Wight County is 7%.  With the loss of these jobs, the rate may climb to 12% or higher, depending on the far reaching effects of the closure on the area's economy.

 

 

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realtor technology spotlight awardTina Merritt and the ALL757 Network can be reached at email:  tina@tinamerritt.com or 757-287-6338.

The ALL757 Network consists of both buyer and listing specialists helping buyers and sellers in Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.

 

 

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2 Comments on International Paper Closing in Franklin

OCT
24
Outside Blog

Hey Tina, that is scary.  International paper is a recognizable company name, not just a small paper mill.  Good Luck.

10:38pm • #1
OCT
25
372,502 Points 14 Featured Posts Localism Sponsor Outside Blog

Tina,

It is ashamed that we do not always see the ripple effect that closing a plant will have.  And in this case it will possibly involve twice the number of people.  I hope that the town will be able to recover.

6:56am • #2

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