Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, March 8, 1990 TAG: 9003081866
SECTION: VIRGINIA PAGE: B8 EDITION: METRO
SOURCE: MADELYN ROSENBERG NEW RIVER VALLEY BUREAU
DATELINE: CHRISTIANSBURG LENGTH: Medium
"This shows me, and I hope the rest of us, that we're all in this together," Thomas G. Johnson, a professor in agricultural economics and author of the study, told representatives of New River Valley governments. "It's not Pulaski's problem; it's the whole valley's problem."
Johnson said the 950 AT&T employees whose jobs will be lost represent all New River localities. And, though the brunt of the impact would be in Pulaski, the estimated loss of 550 residents, 1,560 jobs and more than $1 million a year in fiscal services resulting from the closure would touch each locality as well.
The study estimates that valley income will be reduced by $37 million, retail sales will drop $25 million, real property will fall almost $40 million in value and personal property will be almost $17 million less than if the plant were open.
Johnson estimated 1,475 jobs would be lost in Pulaski County.
Pulaski County also will suffer more than half of the loss in fiscal resources, such as tax revenues and cost economies, Johnson said.
He estimated losses of $520,000 in Pulaski County, $330,000 in Montgomery County, $50,000 in Radford, $60,000 in Wythe County, $40,000 in Giles County and $28,000 in Floyd County for each year the plant is closed.
Unemployment would rise by 2.2 percent in Pulaski County, 1.9 percent in Radford, and 0.3 percent or less in the other localities.
Officials announced Tuesday that workers laid off at the AT&T plant will be eligible for federal financial assistance while they train for or actively seek new jobs.
by CNB