The news out of Dubois County last week underscored the ebb and flow that's constantly occurring in the Tri-State economy.
OFS Brands announced an $81 million expansion of its manufacturing operations in Huntingburg. The expansion will add more than 300 new jobs to the area economy.
State and local leaders helped the project along by providing some $2.7 million in incentives and tax credits. The incentives included $1.9 million in performance-based tax credits and up to $300,000 in job training grants from the Indiana Economic Development Corp. Meanwhile, the Indiana Office of Community and Rural Affairs will provide Huntingburg with a grant of up to $500,000 for off-site infrastructure improvements.
The new jobs come at an especially important time in Dubois County. Another company, MasterBrand Cabinets Inc. has announced it will eliminate 260 jobs early in 2008. Presumably, many of those who lose their jobs will be able to find new opportunities at OFS. Dubois County has long been home to a strong furniture industry, and the local labor force has abundant skills that would seem to transfer well from one company to the other.
The layoffs at one company and hiring at another seem to reflect what's happening in the larger economy. OFS Brands makes highly customized office furniture for executive offices and conference rooms. OFS officials say their business has been booming in recent years - more than tripling in just the past six or seven years.
MasterBrand Cabinets, on the other hand, manufactures cabinets used primarily in home building and remodeling,which has been hit by a major slowdown.
The disruption caused by layoffs are never pleasant easy for those involved. But it's made somewhat easier when new jobs and new opportunities are being created.
That's what has been happening throughout the economy in recent years. We've seen layoffs in some sectors, yet new jobs are being created in others and the unemployment rate remains low.
These changes and disruptions are no doubt why there's such a feeling of uneasiness about our jobs and the future, even when the overall economy seems to have a good footing.