Economy
Modern day Franklin has two major industrial sectors which are agriculture and manufacturing. Franklin is listed as being the 13th most profitable and 12th largest farming community in the state. The neighboring communities Southampton County, Isle of Wight County and the City of Suffolk are all ranked in the top 20 most profitable farming counties, with Southampton County being the 8th largest in the state.
With the high agricultural profile of Franklin and the surrounding areas, it is no surprise that Agriculture is the primary industry for the city. It was not until the opening of the Camp Lumber Mill in 1887 that the manufacturing sector began to expand. The Camp Lumber Mill became the Union Camp Corporation which was eventually bought by International Paper. Today, the International Paper Paper Mill located on the eastern boundary of the city, aside the Blackwater River, produces lumber, pulp and paper products and other chemical by-products.
International Paper announced on October 22, 2009 that the paper mill will be permanently closed in the spring of 2010. This occurred in May 2010. They have since resumed limited manufacturing, producing fluff pulp.
Read more about this topic: Franklin, Virginia
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)