(TheIndependentStar.com) – Bidenomics has struck once again: a company has been forced to move its operations overseas, leaving 1,500 hardworking Americans without jobs.
Specifically, Japanese-owned Sumitomo Corp shuts down the Dunlop tire plant in Tonawanda, New York.
The Dunlop tire plant has been a cornerstone of the Tonawanda community since 1923. Its closure resulted in 1,550 job losses and reflects the ongoing erosion of American manufacturing.
This closure is part of a disturbing trend in the Rust Belt, where manufacturing jobs continue to be shipped overseas, leaving American workers high and dry.
Despite recent investments totaling $140 million in the facility, including $129 million in 2022, Sumitomo decided to pull the plug on the plant.
The company cited “overall facility performance within the increasingly competitive international tire market” as the primary reason for the closure.
The sudden nature of the closure has left local officials and employees stunned, prompting Erie County Executive Mark Poloncarz to express his disappointment.
He stated, “It appears this decision was made by the Japanese owner’s board without any discussion with local and state officials about the possibility of closure.”
“At no point did Sumitomo ask for any additional assistance to remain in operation, despite the fact we have always supported their efforts to succeed here in Erie County with tax incentives and assistance through the Erie County Industrial Development Agency,” Poloncarz added.
Rep. Nick Langworthy also said, “I mean, it comes as a shock. This is gonna really sting here for our regional economy.”
In the meantime, Sumitomo has claimed that it is working with the United Steelworkers Union on severance packages as a consolation to the workers who are losing their livelihoods.
Still, some view the company’s plan to transition production to its existing global facilities as a clear indication that American jobs are being sacrificed for the sake of corporate profits.
Copyright 2024, TheIndependentStar.com
