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Saturday, Apr. 30, 2016

Iowa economy is sound despite slowdowns

Tuesday, December 12, 2000

Slowdowns and job cuts are making waves in Iowa, but the state's economy is holding steady.

Announcements of layoffs in Mount Pleasant and Fairfield would have tipped the state's economic scale, but it was balanced out by Deere & Co.'s decision to spend $500 million to rebuild plants in Waterloo and projected increases of farm exports to Mexico.

Analysts said Iowa is experiencing the same slowdown in automobile and home building sales as the rest of the country, which means there will be less demand for Iowa products ranging from Pella windows to Maytag washing machines and Amana microwave ovens.

Officials at the three companies are keeping their eyes on the national trends.

Pella Corp. was prepared for the slowdown, said spokeswoman Jennifer De Boef. She said the trend has made business for the company "flat but stable."

De Boef said Pella is not expecting to lay off workers - a relief for employees at the company's plants in Shenandoah, Story City, Carroll and Pella.

Read the rest of this article in the 12/12 Pilot Tribune.