The article is in The Union. Belden will be consolidating Miranda and Grass Valley in Whispering Pines and all manufacturing will be going to Canada.
“I can confirm that. That is the plan,” said David Cohen, director of marketing communications with Grass Valley/Belden. “We will be moving all the manufacturing capabilities to centralize them in Montreal (Canada) and the balance of the remaining employees will be combined with those at our Grass Valley location.”
It is the manufacturing that produces tax revenue, management, engineering and software development produce bits and bytes that are not taxable. According the the article the consolidation will result in work force reductions, which will not be good for the the over all economy. The Group provided a strong tax base for Nevada City. I once heard that the bond floated to finance the City Hall re-do was financed with a Grass Valley tax revenue stream. Wonder what impact this will have on Nevada City when that revenue stream is gone. Maybe it is all paid off?