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BEDC: Manufacturing facility plans on reopening soon

Wed, 11/11/2020 - 5:00 am

There is a sign of economic growth returning to Breckenridge after listening to the Breckenridge Economic Development Corporation providing city officials a semi-annual report of the activities of the BEDC. The semi-annual report, submitted by Virgil Moore, Executive Director of the BEDC included April through September of 2020.

“The day after New Vision Manufacturing closed their doors, BEDC had a signed agreement for a new lease on the 136,000 square foot facility located on 25 acres by RGN Manufacturing Services,” the BEDC Semi-Annual Report states. The owner, Kyle Williams, was a minority owner in New Vision and bought in 90% of the business for all the homes that New Vision manufactured. Williams plans to reopen the local facility, primarily with the former employees that may be available. He has started ramping up the facility, having hired his first eight eployees recently.”

Other reports included the unemployment status in Stephens County. Since mid-March, Stephens County has seen 688 individuals filing unemployment claims compared to 20 claims in 2019, according to the most recent graph by TWC.

“The economic environment in Breckenridge showed mixed response to the COVID-19 outbreak,” the BEDC Semi-Annual Report states. “While local sale tax revenue actually increased by 10% for the months of April through August as compared to the previous year, unemployment rose about 2%. COVID impacted local companies, and manufacturers were negatively affected by the shutdowns of their businesses and the slowdown of shopping for some sectors such as restaurants. West Texas crude oil prices plummeted, causing many oil companies to lay-off employees or reduce their hours. The biggest negative impact were the closing of New Vision Manufacturing in June. At their peak, New Vision employed more than 120 employees. When COVID and the oil price dip hit, they lost all the orders for homes that were in line through the end of the year. They ramped down weekly until they closed the plant, the end of June.”

Along with the COVID-19 pandemic, increased unemployment numbers are also charged to a shortage in the oil and gas market from Russia, and the Saudi government’s oil price war. Although the pandemic and oil and gas market continue to fluctuate, Moore remains hopeful about the future.

The unemployment numbers began to increase in mid-March, jumping from one claim for the week of March 14 to 12 claims by March 21. That number nearly doubled with 23 additional claims for the week of March 28.

Numbers have steadily increased with 30 more unemployment claims filed for the week of April 4 and 33 additional claims filed for the week of April 11. More claims (36) were filed for the week of April 18, and 24 additional claims were filed for the week of April 25.

In the two weeks of May 2 and May 9, 62 additional claims were filed.

Statistics show 49 additional claims filed for the week of May 16 and since May 16, 68 additional claims have been filed between the weeks of May 23 and May 30.

For June, 43 additional individuals filed claims for the weeks of June 6 and 13. June 20 found an additional 19 citizens file unemployment claims bringing the total to 400.

The three week period for the end of June and early July was 70 total individuals. For the week of June 27, 18 individuals filed unemployment claims, which were a decrease in the statistics. Additional (52) individuals filed claims within the two weeks of July 4 and July 11.

The number began to decrease in late July and early August, with weekly statistics showing 14 claims in the week of July 25, 16 claims for the week of August 1.

But, numbers begin to increase after early August with 16 claims for August 8, 20 for August 15, and 21 for the week of August 22. The previous two weeks of August 22 and September 5, saw an increase of 29 additional individuals, bringing the total to 602.

Statistics have steadily increased over the previous weeks, as 34 additional individuals have filed unemployment claims. Ten individuals filed claims in the weeks of September 12, 11 citizens filed during the weeks of September 19, and 13 Stephens County citizens filed claims during the week of September 26.

The month of October has seen continued increases with 28 additional cases filed. In the first week of October, 15 individuals filed claims, and 13 filed claims during the second week of October, bringing the total to 664 unemployment claims filed.

The previous two week total for the weeks of October 17 and 24, saw an increase of 24 additional claims filed in Stephens County.