You have to be careful of media spin. Holdens now employs less than 1100 workers, there was over triple this amount in 2006. Most follow on supporting industries have already been cut off from OS importation of parts, what remains have been given strong notice of the future of their contracts. I know of a number of parts suppliers which have been diversifying their contract stream for the last 5 years and are not reliant upon Holdens for their viability.
Meanwhile there is the increasing ramp up of employment within the nearby Edinburgh business park, which employs multiples of the numbers of Holden related jobs in both large private companies, listed asx20 companies and defense industries.
I've never had a Holden employee for a tenant, whereas I have and do have Holden clients + family members, none of which live in the surrounding areas - as you've said, the wages are generally decent - so generally you buy they buy the nice house, nice car, OS holidays etc. Payout figures for those staff leaving will generally pay out their mortgages in their entirety.
It's been a politically football to kick around for decades, I'll be glad when it's finalised closed once and for all, ready for SA to look at growing sustainable industries, not keeping dying ones on life support.
