Six Months After Beech Island Storm: Family Business Still Standing
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Storm Damage, Then and Now WJBF
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Six Months After Beech Island Storm: Family Business...
It's hard to believe it's been six months since a tornado touched down and destroyed businesses and homes in Beech Island. The storm hit during a time when many were struggling with the economic disas...
It’s hard to believe it’s been six months since a tornado touched down and destroyed businesses and homes in Beech Island. The storm hit during a time when many were struggling with the economic disaster. One small business almost had to shut its doors, but after the debris was picked up from their shop, and the economy picked up speed through stimulus funds, the family business is still standing. WJBF News Channel 6’s Joy Howe takes a look.
Beech Island, SC—They didn’t spend years in school, learning how to make specialized equipment. Kevin and Larry Peters learned how to make their patented tools, designed for the Savannah River Site, in their dad’s shop. It’s operated in Beech Island for more than 40 years.
Kevin Peters, Peters Machine and Welding: “He’s been supplying SRS with his invention of these tools that help clean-up the site.“
These tools help keep workers safe, they’re rust-proof, lightweight, and they are shipped not just to SRS, but also to other DOE clean-up sites around the country.
But a year ago…as the economy began to squeeze just about everyone, the demand from SRS began to slow.
Larry Peters: “Orders dried up, they weren’t getting funded for their projects, which trickled down to us not getting orders.”
And then, in the shadow of an economic disaster, came a natural one. Six months ago, a tornado hit Beech Island.
Larry: “Ripped the front façade off our building, as well as our roof, that was a set-back.“
Kevin: “We did look at each other and say ‘we’ve been working at this all our lives, and we’re not getting orders in…and these tools that we make? You don’t sell them on the street, you don’t sell them in your Wal-Mart; they’re very specialized.“
But, the Peters brothers weathered both storms. And today, they have rebuilt their building, and thanks to the Recovery Act, federal stimulus dollars at SRS are trickling down to this shop.
Larry: “Now, they’ve got money, they’re going ahead with their projects, and we’re getting orders, so it’s a win-win situation.“
Kevin: “And hopefully, we will survive.”
Two brothers…six months ago in the red…now have a saying…
Larry: “We’re back in black!“
…to keep them going, and keep business, all in the family.
The Recovery Act is part of the Department of Energy’s plan to pump $1.6 billion into the Savannah River Site, and create 3,000 jobs.
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The Economic Stress Index is still quite high at 11 but it is starting to dip. The unemployment rate is also starting to trend downward, in that fewer people are being laid off, but not everyone is hiring. Credit card lenders and mortgage lenders, however will be playing it safe, so despite the leveling off of the Economic Stress Index, the credit industry is still in need of debt relief.
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