International Paper Co. has announced the closure of two Georgia paper mills, including a Savannah mill that's been a key part of the local economy for 90 years

International Paper called the decision a series of strategic changes to achieve an advantaged cost position in a press release sent out by the company on Thursday morning.

International Paper’s closure of its Savannah paper mill will cost 1,100 jobs and likely will have an impact on SC's $23B forestry and timber industry.