Isle 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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Tina Merritt and her Associates. can be reached at email: tina@nestrealtygroup.com or 757-287-6338.
Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia. In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.
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