CASWELL COUNTY, N.C. - Home furniture maker Riverside Furniture Corp. will invest $5.4 million in a new 300,000-square-foot distribution center and warehouse in North Carolina, creating 50 jobs. The facility will allow for reduced lead times to retailers in the Eastern U.S.
The company is also creating a new showroom in High Point.
“Riverside’s investment in North Carolina, including both the new High Point showroom and the Caswell County distribution center, is a combined $15 million, which is a reflection of our growth as a company and the expansion of service to our customer base,” said Fred Henjes, Riverside CEO and president. “Because the distribution center is situated on 50 acres of land, the campus will give us the ability to expand.”
The North Carolina Department of Commerce led a team of partners in supporting Riverside Furniture’s decision to locate to North Carolina. New positions will include shipping and receiving staff, forklift operators and supervisors. Annual salary for the positions is expected to average $39,260, creating a payroll impact of more than $1.9 million per year for the surrounding community. Caswell County’s overall average annual wage is $36,427.
A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate Riverside Furniture’s expansion. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
Founded in Arkansas in 1946, Riverside Furniture designs, manufactures and distributes residential furnishings to 3,000 furniture retailers across the United States.
Have something to say? Share your thoughts with us in the comments below.