HIGH POINT, NC – Stanley Furniture Company, Inc., is considering downtown High Point for a joint corporate headquarters / showroom facility.

The company currently has two operations in High Point – a showroom in the International Home Furniture Center downtown and a small office on Mendenhall Oaks Parkway.

If the company picks High Point for this new facility, Stanley corporate offices – currently located out of state – would relocate to 200 N. Hamilton St. in downtown High Point. Both of the current High Point operations would also move to the new facility.

· Forty-two jobs would be added in High Point.

· The average wage of those new jobs would be $58,800.

· Thirteen existing High Point employees would move to the new facility.

· The company would add $4.0 million to the local tax base.

“I believe this will be a transformational addition for downtown High Point. If we land this project, Stanley Furniture would bring a significant number of employees to the downtown area. With its attached showroom, the company would also bring visitors to the new facility all year, which will benefit the local hospitality industry and create a destination for furniture buyers year round,” says High Point Mayor Becky Smothers.

“Having such a prominent furniture company choose to move its headquarters to downtown High Point should gain the attention of other furniture companies,” she added. “We would anticipate that other furniture companies will consider the merit of moving their joint headquarters / showroom facilities to this important area of High Point.”

High Point is being considered along with locations in two other states for the project. Local public hearings will be held to consider authorizing financial incentives for the project:

· Monday, April 2, 2012, at 5:30 p.m. – The High Point City Council will consider authorizing up to $340,000.

· Thursday, April 12, 2012, at 5:30 p.m. – The Guilford County Board of Commissioners will consider authorizing up to $76,000.

The State of North Carolina is also considering participating in the project.