FW company worries defense cuts will hurt business - Dallas News | myFOXdfw.com

FW company worries defense cuts will hurt business

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A Fort Worth business worries the impending federal budget cuts could hurt its growth, which largely depends on defense contracts.

Fort Worth Gasket and Supply Company produces rubber gaskets. The Navy ordered some for its submarines and aircraft carriers.

The family-owned company says business has been good, but some projects are being postponed because of possible budget cuts. A worker there says that could hurt the business' growth.

"Based on last year's numbers, if we kept the same growth, we'd be hiring an additional two to three staff members," Derek Boone said. "If the sequestration goes into effect it would likely maintain at the same level, and we wouldn't be hiring as much."

Washington lawmakers have until Friday to reach a deal, or $85 billion dollars will be cut from the federal budget.

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