Economy
On December 4, 2008, Abitibi Bowater released a statement concerning imminent closure of the pulp and paper mill in Grand Falls-Windsor, representing a cutback of 205 000 tons of paper. The mill produced its last roll of newsprint on February 12, 2009. The closure was effected due to exchange rate volatility, energy and fiber pricing, as well as structural challenges in the North American newsprint industry. At the time of closure, the paper mill was the second largest employer of the town.
Like most other communities in Newfoundland and Labrador, Grand Falls-Windsor has suffered from outmigration though the town's economy still remains strong.
Read more about this topic: Grand Falls-Windsor
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“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)