JANESVILLE, Wis. -- Many Janesville residents said they are upset and worried about what the future will bring following Tuesday's announcement that General Motors plans to close four of the company's plants, including its Janesville facility, at the end of 2010.

VIDEO: Watch The Report

The Janesville closure is an economic blow to the Wisconsin community that has long been entwined with auto making.

While most residents in Janesville knew that the day of the plant's closure was coming, they said that hearing the news that the plant will soon close for good is not easy to swallow.

"It's an icon to part of the community, as part of our identity," said John Beckord, president of Forward Wisconsin, Janesville's business development group. "It's a little bit like losing an elderly parent. You know it's coming, but when it actually happens, there's still a chill down your spine."

But Beckord said he remains optimistic that the closure of the GM assembly plant doesn't mean the end of Janesville.

But others aren't as optimistic about the future.

"I think people are going to have to go somewhere else and try to get better jobs -- whether they're in factories or whatever, because there's really not a bunch of high-paying jobs in this town," said James Hagy, of Janesville. "I think it's a big deal. It's a big plant with a lot of workers, and over the years there have been a lot of cuts already."

The closure is likely to affect much more than the obvious. Many employees will likely move away for other jobs, which won't be easy considering the current housing market. Schools will likely see lower enrollments and the businesses where the workers spend their money will likely also be hurt.

"I think everyone's going to suffer, one way or another. The economy is definitely going to be bad," Marie Lengjak, of Janesville.

While the effect of the plant's closing on Janesville is yet to be seen, Beckord conceded that it's going to be rough.

"I think people are trying to measure just what this means. How will this filter through? How impactful will it be? And I can't pretend to really know the exact answer to that question," Beckord said.

Business development leaders in Janesville said the plant's closure could significantly affect nonprofit organizations in the area. They said that GM employees have traditionally been the backbone for the fundraising efforts of the United Way in Rock County.

WISC-TV auto expert Matt Joseph said that the ripple effects of the plant's closure will be widespread. He said as many as 10,000 jobs could be lost by 2010.

"It's a very distinct possibility (that some workers would go to Michigan or Ohio). Now, I don't know the number of GM downsizing, but it'll be competitive. I would think the people in Janesville would have a pretty good shot at that because they worked in Janesville," Joseph said.

But Joseph said he is confident that the community will survive.