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U" <br />s'S6'• x.1'111 <br />Historically, the Studebaker Motor Corporation was the hub of <br />heavy industry in South Bend as well as the surrounding area. At <br />its peak employment in the 1930's over 22,000 persons were employed <br />there. Following World War II, Studebaker began cutting back its <br />rr operation and there was a steady decline in the 1950's and early <br />1960's. When Studebaker finally closed its doors in 1964, <br />"{ employment was approximately 6,000. <br />ON <br />During its peak years, Studebaker utilized several factors that <br />strengthened its position as a prime industrial force in the local <br />and regional economy. These included: <br />favorable transportation access <br />• large pool of skilled labor <br />• large concentration of buildings <br />Ironically, some of these very same factors eventually combined to <br />r. weaken Studebaker. The advancing age of its buildings, coupled with <br />their unsuitability for conversion to other industrial uses, and <br />structural shifts within the automotive industry all contributed to <br />the demise of the Studebaker Corporation. <br />r. <br />Although the loss of Studebaker was a blow to the local <br />economy, South Bend gradually diversified its employment among the <br />.p service, retail and manufacturing sectors. While the city's economy <br />has, by and large, recovered, the Studebaker Corridor has not. In <br />'OW fact, this area has been steadily deteriorating since the early <br />No 1960's. While the economic loss of Studebaker's manufacturing has <br />been absorbed over time, the physical as well as psychological <br />effects linger on in the form of vacant land and under - utilized <br />buildings that are linked to the widespread perception that this <br />situation is not likely to reverse itself. Symbolic of this, the <br />six -story Shetland Properties building, once at the center of a <br />sprawling auto - manufacturing complex, looms large and vacant, <br />wr overlooking a revitalizing downtown. <br />The main strengths of the Studebaker Corridor, as they relate <br />av to potential redevelopment, are as follows: <br />A central physical position within St. Joseph County. <br />"" A prime location near downtown as well as the Monroe <br />Industrial Park. <br />11r Good access to both rail and highway transportation. <br />The Studebaker Corridor connects easily to the city and <br />region via several major connectors and arterials <br />1"W (i.e., Main, Sample, Lafayette, and Prairie) and is <br />just minutes away from the Indiana Toll Road and U.S. <br />31 bypass. Potential rail service is provided through <br />links with the Norfolk & Western and Conrail (formerly <br />Penn Central) systems. <br />F <br />ire <br />-4- 1/10/86 <br />