- Experts says the UAW strike cost the U.S economy about $1.6 Billion after the first week.
- The video above explains what impact it could have on the Lansing area.
About $1.6 Billion. That’s how much experts say the United Auto Workers strike cost the U-S economy after one week.
And after Friday’s decision to go on strike at a parts distribution center here Lansing we wanted to know what the impact might be for us.
“Lost wages is a major loss for the local economy," said Christina Benton the director of market industry analysis at the Anderson Economic Group. "We specialize in economic analysis. And one of the industries in which we specialize is the automotive industry.”
From the beginning they’ve been looking at the types of losses a strike against the big three would have on the economy.
"One of those things we looked at was lost wages by workers, by the striking workers or by workers that are laid off," Benton said.
FOX 47 also sat down with President & CEO of the Lansing Economic Area Partnership Bob Trezise.
"It's just a little over 200 employees at this particular plant, but it will have impact for sure on more of that supply chain," Trezise said. "And it really gets into people having enough money in their pocket, who work at these places.”
And the people that don’t have that weekly paycheck Benton says are going to be more cautious and will think twice about spending money.
And places that might see an impact are those many of us visit ofter.
"Grocery stores, other retailers in the area, restaurants and gas stations," Benton said
Over a mile away from the parts distribution center in Lansing you’ll find Spuds Family Restaurant.
"It's Greek based Greek owned. So we have all American food. We have some Greek food on the menu, a lot of homemade dishes," said manager Lisa Hatcher.
The family restuarant has been around for 40 years and gets business from all over the area. But Hatcher says they do have GM workers that come by to grab a bite to eat and feel right at home.
Hatcher has called the restaurant home for 20 years and says they are like a family. And just like everyone else she is hoping the strike will be over soon.
“I hope they come to an agreement soon. It will affect the whole economy. It'll affect you know, any auto workers area, Lansing, Detroit, whatever. It's gonna affect us," she said.
But she says they aren’t worried about it affecting their business too much.
"We've been through a lot here. You know, we've been through ice storms and we've been through covid and we've been through power outages and many many things and we're still standing we're not going anywhere. I can guarantee you that," Hatcher said.
Although the Anderson Economic Group does not have specific numbers for Lansing just yet it will be something they will be keeping an eyes on.
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