GREENVILLE —
A major player in Greenville’s economy could be impacted by legislative inaction in Washington D.C., John Duca warned attendees of the Greenville Chamber of Commerce’s Economic Forecast Breakfast Wednesday morning.
Duca, vice president of the Federal Reserve Bank of Dallas, asked county residents to keep an eye on the predicted sequestration and its potential impact on L-3 Communications Integrated Systems.
“We need to get past uncertainty,” he said. “What’s going to happen with L-3 when the sequestering comes in two months?”
Sequestration is a series of mandatory budget cuts to federal programs, which will go into effect on March 1 if Congress cannot pass a deficit reduction bill. Approximately $1.2 trillion would be cut in the next 10 years from federal spending.
On Feb. 12, Air Force Chief of Staff Gen. Mark A. Welsh III told the Senate Armed Services Committee that if the sequestration takes place, “It will significantly undermine your Air Force’s readiness and responsiveness today.”
Much of L-3’s business comes from contracts with the Air Force. Cuts in defense spending would have a negative impact on L-3, which could potentially hurt Greenville’s economy.
On a positive note, Duca said the Texas economy, especially the Metroplex, is benefiting from the natural gas surge taking place in the country.
“The Texas economy outperforms the nation,” he said. “Houston and Dallas produce a lot of equipment for fracking.”
Along with benefiting from fracking, Duca said a lot of chemicals can be produced using natural gas, which will continue to fuel the Texas economy.
According to Duca, the housing boom that Rockwall and Royse City is seeing will soon make its way into Greenville.
“Don’t be surprised to see the housing boom coming closer next time,” he said.
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Economist urges look at sequestration
also gives warning l-3 could be impacted by legislative inaction
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Lions Club helps children see the world more clearly
For 10 years, the Commerce Lions Club has been putting on vision clinics to help give children a chance to see life a little more clearly.
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Lions Club helps children see the world more clearly
- Sports
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The Commerce Lady Tiger softball team celebrates a 6-4 victory over New Boston at the Northeast Texas Community College softball field in Mount Pleasant on May 10. The Lady Tigers will play number one ranked Pilot Point in the state semi-finals in a best two-out-of three series. Two games will be played on Friday, the first at 6 p.m. and the second at 8:30 p.m.; and a third, if needed, is scheduled for Saturday at 10 a.m.
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Lady Tigers softball look to topple number one ranked Pilot Point
Tomorrow the Commerce High School Lady Tigers Softball team will play Pilot Point, the number one ranked team in the state.
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Lady Tigers softball look to topple number one ranked Pilot Point
- Obituaries
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Kelly Jones
Funeral services for Kelly Walker Jones of Sulphur Springs were conducted at 10 a.m., May 11, in the West Oaks Funeral Home chapel with Bro. Hoyt Scoggins officiating and Jay Porterfield assisting. Interment followed at Restlawn Memorial Park with Lance Looney, Grant Looney, Kyle Smith, Ryan Reed, Taylor Pace and Brad McFadden serving as pallbearers. Honorary pallbearer was Trey Elliott.
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Kelly Jones
- Opinion
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AD sees bright future with support of community
It’s a great day to be a Lion!
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- Road project, Tigersharks examples of city and university working together
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AD sees bright future with support of community
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