Verso Closing A Big Impact on Local Economy [AUDIO]
SARTELL - The job impact on the closing of the Verso Paper Mill in Sartell will be far more reaching than just the plants workers.
St. Cloud State University economist King Banaian says the 259 jobs lost this week, combined with the 175 jobs that were cut at the plant last December, will result in about 680 job losses region-wide.
The Verso Paper Mill employed more than 500 workers as recently as three years ago.
The Verso Paper Mill has been the biggest tax payer for the city of Sartell and Benton County. Now that they've announced that they're closing the plant, it will affect the tax rolls for both. But, Banaian says the impact is probably a year away.
The value of the Verso Paper Mill property was $25.2 million before the Memorial Day explosion and fire. They paid $1.06 million in property taxes last year, which was split between the city, the county and the school district.