ANNA, IL - A local town is bracing for an economic blow after word a plant will soon close up shop. Approximately 75 people will be out of a job by the New Year.

Transcraft Corporation makes flatbed, drop deck, dump trailers and truck bodies. Transcraft's parent company Wabash National Corporation announced consolidation plans Tuesday. (To read the full news release click here.) The company has two facilities, one in Anna, Illinois and the other in Cadiz, Kentucky. The plan is to close the Anna location and move all production to the Cadiz site.

A representative said the economic situation right now is forcing the company to reduce costs. In the end, all product lines will shift from two locations to just one but the decision is putting people's livelihoods in limbo.

The sign outside Transcraft Coroporation reads "The #1 Flatbed Builder In America," but a lot of the company's workers don't feel very appreciated right now.

Thomas Rains is one of dozens told he'll be out of job in a matter of months. The husband and father of three is wondering where he'll land next.

"Pretty worried with the economy and the competition that's out there to find another job," Rains said. "A lot of people are worried."

Workers at the Anna plant are upset after being told they'd lose their jobs come 2010, but what really has them angry is that they'll have to reapply for their position at the Cadiz location.

Tuesday's City Commission meeting started on a somber note as the Mayor announced the news.

"Transcraft is going to close their doors. It had nothing to do with the city of Anna. It had nothing to do with the county. It had nothing to do with the workforce," Mayor Steve Hartline said. "They were well pleased with what they had, it was strictly an economic move."

An economic move that will help one community but hurt another, but Mayor Hartline said this is just a bump along the way of life.

"It's not a good thing to lose business, but we've been through it before and we'll get through it," Hartline said.

Meantime workers will start searching for jobs in hopes of a smooth transition down the line.

We're told that the employees from the Anna plant will have the opportunity to apply for a position at the Cadiz location, but are not guaranteed a job.

Cadiz's Mayor, Lyn Bailey said the community is very happy to have the company and it's a real plus because there's the possibility of more jobs being created.

Both Transcraft and the Anna Mayor said a local business owner may purchase the old building once it's empty and expand his business.