Newton, Iowa: Through a Wringer
You'd think Newton, Iowa, would be struggling. Maytag, founded there in 1893, had just shut its doors. Residents were uneasy about what that meant for the town. But while sales have been slow at such standbys as Pappy's Antique Mall, a new band of entrepreneurs is betting they can make a go of it. Many are former Maytag employees, aided by decent severance packages and skills developed over years. They're starting companies such as Springboard Engineering, a research and development shop, and Kreativ, an art gallery. Dana Woody started her own payroll business. "I would have stayed at Maytag for years if they didn't leave town," says Woody. "I've started a whole new life for myself." For more about Newton, see the slide show, "Newton, Iowa: A Town Reborn".
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