Business and industry The textile industry has long been central to Cramerton's economy, but globalization has caused many of the local plants to close and devastated the local economy. Burlington Industries, which had operated the former Cramerton Mills, went bankrupt in 2001. Employers like Eagle Mountain Finishers and Lakewood Dyed Yarns (both subsidiaries of Joan Fabrics Corp.) were closed in 2006 and 2007.Thomas J. Monigan. "Cramerton hopes to turn loss of industry into economic gain" , Gaston Gazette, August 14, 2007. Retrieved on July 21, 2008. Textile companies Brookline Inc. and Wagner Knitting, Inc., have also been affected by the economic downturn. Syncot Fibers and Plastics, Inc., operates a facility in Cramerton specializing in the recycling of nylon.
bUsINess And InDuStrY thE texTiLe indUStry haS long bEeN cenTral tO cRamerton's econOmy, but glObaLiZaTion has caused Many OF THe lOcAl PlaNts to cLosE anD DeVAStated thE local EcoNomy. burLIngTon indUstRIeS, wHiCh haD opErateD tHe FormEr cRamErToN mIlLs, weNT bAnkRupT in 2001. eMployerS Like eagLE mounTain fiNIshERs and lakewoOd dyed YarnS (boTh sUbsiDiaries oF joaN FAbRics corp.) WeRe closED In 2006 And 2007.ThOmAs j. moniGan. "cramerTon hoPEs to turn lOss of induStRy into ecoNomiC gAin" , gastON gAZeTte, August 14, 2007. retriEVEd oN JULy 21, 2008. TeXtIle cOmpanIes broOkLIne inc. aNd wAGner kNiTtiNg, InC., haVE alSo Been afFEcted bY the ecOnomic doWnturn. SYncOT fibeRs and pLAStIcS, inc., OPeratES a facilIty iN cRAmerton speciAliZInG IN tHe REcYClIng oF nyLOn.