JACKSONVILLE - It's been a jacksonville staple for over a century. Becky Bailey, a local realtor tells KETK, "I think it would leave a huge void in our community."

Now, Lon Morris college has acknowledged that they furloughed, or temporarily placed many of their employees on unpaid leave. While some rumors say it could be one step closer to the college's closure, many aren't sure what the future will be like for the local icon. But city officials are already expressing concerns about the possibility of a shut-down.

"If this is what we're hearing is happening, it will have a negative impact on the economy in Jacksonville."

Mo Raissi, Jacksonville City Manager says at this point, it's just too early to tell what kind of fallout could happen from the Lon Morris furlough. But he says the city has gone through similar situations in the past, and found a way to make it through.

"Jacksonville as a whole, we've had some set backs in the past. We've had factories shutting down and we always strive to bring somebody else in there."

It's not just city officials worried about the possible impact, a local realtor says she's concerned not only for the city, but the students and faculty. Bailey says, "It would have a huge economic impact on Jacksonville. Not just the staff, that lives here and rents here, shops here, spends tax dollars here but also the students who do the same."