HIGH POINT, N.C. — Stanley Furniture announced Monday afternoon that it will move its corporate headquarters to High Point.
The company, which plans to consolidate its showroom and two existing corporate offices into one new facility, will create 42 jobs and invest $4 million in the city over the next three years.
Salaries will vary by job function, but the total minimum payroll for the new jobs will be more than $2.5 million.
Stanley officials previously said they may possibly have a showroom ready for the April 2013 furniture market.
The High Point City Council voted unanimously last week to approve $335,000 in incentives.
“That’s not money that’s just given to the company,” said Loren Hill, President of the High Point Economic Development Corporation. “For them to get that money they have to meet certain benchmarks and perform in certain ways to do the kind of job creation and tax base addition that they say they will do.”
Gov. Bev Perdue released the following statement to accompany the announcement:
“Like more and more companies, Stanley Furniture not only will expand in North Carolina, they’re going to put down deep roots. Stanley is putting their complete corporate offices in High Point, and that move is the result of our state’s skilled and motivated workforce and a supportive business climate, especially for this heritage industry.”
Stanley Furniture is now based in High Point and Stanleytown, Virginia.
The company offers two major product lines – its Stanley brand is the fashion furniture line for the adult market, and its Young America brand is the leading children’s furniture brand.
The Young America furniture line is manufactured completely in the western part of the state in Robbinsville, where more than 350 people are employed by the company.