False in Some Sense
A small chemical plant and research laboratory, Phoenix tech positions provide a decent source of jobs in the small town of Terra Lake. A relatively recent development, only coming to town in the past fifteen years or so, Phoenix Chemicals is starting to grow and will probably cause the town to grow and develop more dramatically in the near future. Phoenix Chemicals is run by Henry Phillips, local businessman.
The recent economic woes threatened to force Phoenix Chemicals to shut down, but it seems that they may be saved. Perkona Biotechnologies, a biotech firm from San Francisco, has shown interest in acquiring Phoenix. Unless something extremely odd happens, this is probably a done deal.