The financial crisis is creating a domino effect that touches the lives of all local residents.
On the economic front, it’s difficult to find much good news lately. It’s painfully clear that financial hardships are affecting nearly every facet of life in our community.
Some recent examples:
- In January, the county’s unemployment rate stood at 6.6 percent — double what it was in 2005. And it’s only going to get worse, as more companies and government agencies are forced to cut jobs. Last week, local brake manufacturer Continental Teves laid off 47 workers, and Culpeper County Public Schools plans to eliminate 33 positions to balance next year’s budget.
- Put on hold for the foreseeable future are two major projects for Culpeper County: the planned interchange at Route 666 and U.S. 29 near Eastern View High School, and the final phase of the Route 3 four-lane widening project between Stevensburg and Lignum.
- Culpeper’s public school system has seen an increase in the percentage of students eligible to receive free and reduced lunches. And the unemployment office can barely keep up with the increasing demand of people looking for help.
- The number of foreclosures shows no signs of letting up.
The silver lining for the public sector is that money from the bailout bill signed by President Obama Tuesday will soon be available to state and local governments. But we’ll see how that plays out, especially when it comes to helping the average Joe.
Aside from the stimulus package, it should be noted that Culpeper has a history of meeting challenges. Local residents even now are finding ways to weather this economic storm. Examples include:
- the leadshare groups of business people who meet to network and share tips
- George Washington Carver Training and Educational Center offering vocational training
- Germanna Community College standing ready to retrain workers or provide added skills
- The Culpeper Food Closet and new homeless ministry.
The economy runs in cycles, and our hope is that Culpeper will emerge stronger than ever when better times return.
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