Alcoa’s impact on Denison’s economy

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DENISON, Tex. -- Many in Denison are left asking how the closing of the Alcoa Plant will affect the city's economy. Ryan Loyd has that story in our team coverage.

The announcement of the closing of the Alcoa Home Exteriors Plant comes as a surprise for many, and the economy has come to depend on a company with such a long-standing history in Denison.

"It’s going to put a heavy impact on the economy." Denison resident Glen Foster says.

People know the name and the company are synonymous with providing good jobs with good pay, but now 180 people will be without jobs.

Brian Lorens has lived here for nearly five decades and has his finger on the pulse of the economy.

"I know they'll be hurting. There's jobs here, but not too many, and for that big place to close, it will hurt them."

Denison city leaders say they know the impact will be big, but they're also optimistic.

"When you really look at it, we've had more business come in the area than we've had leaving."

With other big business here, Scott Smathers with Denison's Business Development Alliance says it won't be hard for the employees to find on.

"For the area, we're excited. It's growing, ultimately."

But until that mid-December date when the plant will officially close, some people have a little advice for the families coping with the news.

"Keep a chin up and go forward. Life moves on, but, yes, it will have an impact all the way around."

Employees got the day off with pay on Friday. Those who did work are getting paid double. The plant won't close until mid-December, and that's when the families will really start feeling the effects of Friday’s announcement.

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