POSTED: Monday, October 27, 2008 - 6:58pm
UPDATED: Wednesday, March 17, 2010 - 10:59am
TYLER - The slumping economy you've heard so much about is taking a hit on the City of Tyler.
City officials announced today - two high-profile projects, expected to bring in thousands of high-paying jobs - have been put on hold.
Tom Mullins, with Tyler Economic Development Council, says the projects were expected to bring in more than 1,100 high-paying jobs.
He says one company was in the internet banking business.
The other - a large engineering company.
Names of the companies were not released.
One of those company's is struggling to get financing because investors and credit markets are spooked by the global financial crisis.
The other business is dealing with production losses due to Hurricanes Gustav and Ike.
Despite the bad news, Mullins says he feels secure that the projects will someday call Tyler home.
He also notes that Tyler has worked to diversify its economy and it remains among the strongest in the country.