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Copper slump hits Arizona economy in copper state downturn
Arizona faces plant closures and layoffs as copper prices fall below production costs. About 11,000 of 1,800 copper workers face layoffs with Duval Corp announcing furloughs for 1,868 employees south of Tucson and near Kingman. Government, utilities, and suppliers stand to lose millions as the industry slows. Governor Babbitt plans a no-growth budget. analysts warn the impact will ripple through energy, taxes, and payroll.
MENTIONED IN THIS ARTICLE
Arthur H. Rotstein
Tucson
Ariz
Arizona
C.J. Hansen
Arizona Mining Association
Duval Corp
Kingman
Duval
Esperanza Federal Credit Union
Grand Canyon
George Leaming
Western Economic Analysis Center
Marana