The Pfizer plant on Darbytown Road in eastern Henrico County will shut down over the next two to three years, eliminating about 550 jobs.

A large number of job losses can adversely affect a local economy, and its associated housing market, when newly-unemployed consumers start to spend less money at local merchants. Homeowners who lose their jobs may have trouble paying their mortgages, and be forced to sell their houses for less than they paid for them, or risk foreclosure.

Read more in the Richmond Times-Dispatch....