How Our Local Economy Will Be Affected By MEMC Closing - - Texoma news, weather and sports

How Our Local Economy Will Be Affected By MEMC Closing


Yesterday we told you MEMC is shutting down it's Sherman plant. Over 200 employees, many of who have been with the company more than ten years, will be out a job in a year and half. Deeda Payton reports on how this plant closing will affect our local economy.

MEMC came to Sherman in 1997, now 12 years later it is announcing massive layoffs as it prepares to leave Texoma.

Yesterday the company issued a press release citing the current "extraordinary economic times" as a reason to shut down the plant in 2011.

Currently, about 225 technically-skilled employees work at MEMC in Sherman and have for years, so the difficult part of this situation will be finding the workers new jobs with the pay they are accustomed to.

Workforce Solutions Texoma and the Sherman Economic Development Corporation have already been contacted by MEMC to help those employees find work and to find a buyer for the facility itself. "The fortunate part of this one is that there is enough time to help people find other jobs and training so that will make it a lot easier and make it less of an impact on the economy."

"Whenever you get over 200 employees in a business we're talking about a pretty significant employer. They've been a good employer. We're glad they're here. We're sorry to see them go. We're optimistic we'll get another employer to move into that facility." SEDCO says they have been in close contact with MEMC over the years, as they are with all their companies, and they say MEMC is a company they have been concerned about for a while. This is also not the first time they have had to make cuts.

The company says some of the employees will be offered jobs at other MEMC facilities. All other employees will receive severance packages and other benefits and assistance, including re-training opportunities.

Deeda Payton, KTEN News.