Monaco Coach has agreed to sell most of its assets, including its facilities and equipment in Elkhart County, to Illinois-based Navistar International for $52 million. That is welcome news for the hard-hit town of Wakarusa. (WSBT photo)
Story Created:
Apr 27, 2009 at 4:37 PM EDT
Story Updated:
May 4, 2009 at 12:13 AM EDT
WAKARUSA — There are still questions, but local leaders are ready to do what they can to ensure Navistar International creates jobs. The $52 million deal to buy equipment and facilities from bankrupt Monaco Coach is not a done deal, but it holds a lot of promise for the town of Wakarusa.
Monday morning there was some activity at the closed Monaco facilities in Wakarusa. Some crews were spotted entering buildings at the complex. A maintenance worker was mowing the grounds. It was an optimistic sight for the town of 1,800 that was hit hard by Monaco plant layoffs.
“Certainly it's a positive thing,” said town manager Tom Roeder. “We don't know much about it at this point but if it happens, I think it will mean more jobs for folks in Wakarusa, and we're really looking forward to see how this thing turns out.”
That includes Jody Baugh, who lost his job at Monaco in September.
"It's a possibility of more jobs and opportunities for everybody in the Elkhart County area,” he said. “Hopefully it will work out for us all. Any opportunity is an opportunity regardless of what it is."
Local merchants say they have dealt with a fair share of ups and downs due to the economy, and add that this is the kind of positive economic news that they, and the entire community, have been waiting for.
"Thirty-eight years in this business, I've never seen quite like this,” said Stan Cook of Cook’s Pizza. “What we’re sensing now is the fear of unemployment running out for these people, and then what? So we need some good news."
"It's been a shot in the arm to us,” added Kenny Twa of Wakarusa Pro Hardware. “We're all excited about the possibilities that could happen, although we haven't heard any details."
If it all pans out, the project could receive assistance on three levels. The county could consider a tax abatement to get the project going. The state could help with job training grants.
“And in addition stimulus money may be available depending on what the product is and what the interest is,” explained Dorinda Heiden-Guss of the Economic Development Corporation.
