Indiana NFIB's Latest “Labor” Forecast.
After the Labor Day weekend ended in Indiana, more than 800 Hoosiers found themselves without a job. Within the past few weeks, five companies notified the state of closures and layoffs that will take place before November 1, 2023.
In Kokomo, Trialon Corporation, who is a client of Borg-Warner, will close and 110 people will lose their jobs as of October 22. This is in addition to a previously reported closure to a Borg-Warner company that will layoff at least 82 people.
In Columbus, a fiber-based packaging company by the name of WestRock is closing their facility on October 15 resulting in the loss of jobs for 101 employees.
Starting on November 1, the town of Ashley will lose 155 jobs at TRIN, Inc. The company is an automotive parts supplier that will close for good on March 31, 2024.
In Wabash, Owens Corning will close it’s facility near the end of October and lead to the loss of 87 jobs.
Tyson Foods will shut down its Corydon plant by March of 2024, putting more than 300 people out of a job. The closure ripples into the entire community as dozens of local growers will lose their contracts with Tyson.
While rural areas across Indiana brace themselves for the impact of closures and layoffs, NFIB State Director in Indiana, Natalie Robinson, wonders if the hardships could be turned into opportunities for small businesses still struggling to hire workers.
NFIB’s August jobs report found that 40% of small businesses had trouble filling job openings. That means there could be a silver lining here: perhaps small businesses in rural areas have an opportunity to fill their job openings while providing jobs to those who have been displaced.
Robinson urges small businesses in and around the impacted areas to coordinate hiring and job placement efforts with their state and local officials. This will create the best possible outcome for the Hoosiers who will soon be facing unemployment and the small businesses facing hiring challenges.