NEWPORT-Although Cocke County has received bad economic news in recent months, the Cocke County Partnership and Economic Development Commission are working aggressively to develop a marketing plan.
Several local firms have experienced layoffs this winter. This week Newport Precision Inc. announced it would close the Newport facility. Also commercial furniture manufacturer CF Group announced layoffs.
Newport Precision's closure, reportedly coming at the end of March, will result in the loss of 37 jobs. General Manager Shelby Smith told the Plain Talk that automotive products made by Newport Precision, which is owned by Hatachi, are being phased out because "changes in technology."
"We will run through the end of March, at which point most people will be laid off," added Smith. "We will then have a few people continue to work in April and May through the liquidation of assets."
CF Group, which produces interior furnishings for the hospitality industry, has not announced the number of employees it is laying off. When contacted Friday morning, a human resource spokesman for the company said no information is being released concerning the layoffs. The Tennessee Department of Employment Security, however, reported it has had inquiries from laid off workers from CF Group.
Reportedly, Sonoco has also suffered recent layoffs, and Eagle Plastics has temporarily halted operations until the economy improves.
"We have seen a large increase in people being laid off here in the county," said Betty Whitson, of the Department of Employment Security in Newport. "It's a difficult time. People can't file claims at this office but we give them information so they can file claims either by phone, online or at the Talbott office.
Even with the less than positive news, Cocke County officials are working hard to develop a plan to attract new industries in the future and working with existing industries during the declining economy.
"For the most part, our industries are holding their own," said Partnership President Jennifer Wilson. "There have been some negatives.
"But we are meeting with industries to see how we can assist. Also, we are developing a marketing plan for the county so that we will be in good shape when the economy improves. Just because things are down right now, we're not going to stop doing business."
According to the Tennessee Department of Labor and Workforce Development, Cocke County's unemployment rate jumped to 10.5 percent in December, with more than 1,700 residents without jobs.